XOS (NASDAQ:XOS) Cut to Hold at Zacks Research

Zacks Research downgraded shares of XOS (NASDAQ:XOS) from a strong-buy rating to a hold rating in a research report sent to investors on Monday morning,Zacks.com reports.

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of XOS in a research note on Wednesday, January 21st. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, XOS has an average rating of “Hold” and a consensus target price of $7.00.

XOS Price Performance

Shares of XOS opened at $2.17 on Monday. The firm has a fifty day moving average price of $2.21 and a 200-day moving average price of $2.50. The company has a current ratio of 2.41, a quick ratio of 1.44 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $24.59 million, a P/E ratio of -0.50 and a beta of 1.65. XOS has a 12-month low of $1.74 and a 12-month high of $5.60.

Insider Buying and Selling at XOS

In related news, major shareholder Emerald Green Trust sold 12,983 shares of the company’s stock in a transaction on Friday, December 5th. The stock was sold at an average price of $2.52, for a total transaction of $32,717.16. Following the transaction, the insider owned 1,561,229 shares of the company’s stock, valued at $3,934,297.08. This represents a 0.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold 34,243 shares of company stock valued at $76,274 in the last quarter. 20.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. DRW Securities LLC purchased a new position in shares of XOS during the 4th quarter worth about $33,000. Geode Capital Management LLC increased its position in XOS by 29.9% during the fourth quarter. Geode Capital Management LLC now owns 71,145 shares of the company’s stock worth $129,000 after purchasing an additional 16,357 shares during the last quarter. Citadel Advisors LLC purchased a new position in XOS during the third quarter worth approximately $27,000. Finally, Two Sigma Investments LP purchased a new position in XOS during the third quarter worth approximately $331,000. 12.86% of the stock is currently owned by institutional investors and hedge funds.

About XOS

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.