XOS (NASDAQ:XOS) Shares Down 5.8% – Here’s Why

Xos, Inc. (NASDAQ:XOS)’s share price dropped 5.8% during mid-day trading on Tuesday . The stock traded as low as $1.79 and last traded at $1.80. Approximately 91,476 shares traded hands during mid-day trading, an increase of 68% from the average daily volume of 54,305 shares. The stock had previously closed at $1.91.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of XOS in a research note on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $7.00.

XOS Trading Down 5.8%

The stock’s 50 day moving average is $2.34 and its 200-day moving average is $2.76. The company has a market cap of $20.39 million, a P/E ratio of -0.42 and a beta of 1.61. The company has a current ratio of 2.41, a quick ratio of 1.44 and a debt-to-equity ratio of 0.45.

XOS (NASDAQ:XOS) last issued its earnings results on Thursday, November 13th. The company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.73) by $0.95. The business had revenue of $16.50 million during the quarter, compared to analysts’ expectations of $17.33 million. XOS had a negative net margin of 66.13% and a negative return on equity of 128.19%. Research analysts anticipate that Xos, Inc. will post -5.37 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Emerald Green Trust sold 12,983 shares of the company’s stock in a transaction that occurred on Friday, December 5th. The stock was sold at an average price of $2.52, for a total value of $32,717.16. Following the transaction, the insider directly owned 1,561,229 shares of the company’s stock, valued at approximately $3,934,297.08. This represents a 0.82% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders have sold 34,243 shares of company stock valued at $76,274. 20.90% of the stock is owned by insiders.

Institutional Investors Weigh In On XOS

A hedge fund recently bought a new stake in XOS stock. Citadel Advisors LLC bought a new stake in shares of Xos, Inc. (NASDAQ:XOS) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 10,025 shares of the company’s stock, valued at approximately $27,000. Citadel Advisors LLC owned about 0.12% of XOS at the end of the most recent quarter. 12.86% of the stock is owned by hedge funds and other institutional investors.

XOS Company Profile

Xos, Inc (NASDAQ: XOS) is a U.S.-based manufacturer of commercial electric vehicles, offering Class 5 through Class 8 electric trucks, chassis and proprietary battery systems. The company’s core business spans vehicle design, powertrain integration, battery management and telematics, aimed at supporting last-mile delivery, beverage distribution and vocational fleets. Xos combines modular vehicle architectures with advanced software to deliver route-optimized performance and zero-emission operation for commercial customers.

Founded in 2016 as a spin-off from a specialty vehicle division, Xos designs, engineers and assembles its electric trucks at a manufacturing facility in Morristown, Tennessee, while maintaining research and development operations in California.