Xos, Inc. (NASDAQ:XOS) Sees Large Increase in Short Interest

Xos, Inc. (NASDAQ:XOS) saw a significant increase in short interest during the month of March. As of March 31st, there was short interest totalling 159,600 shares, an increase of 53.9% from the March 15th total of 103,700 shares. Based on an average daily volume of 18,100 shares, the short-interest ratio is presently 8.8 days. Approximately 7.4% of the shares of the stock are short sold.

XOS Stock Performance

NASDAQ:XOS opened at $8.77 on Friday. The firm has a market cap of $67.97 million, a PE ratio of -0.67 and a beta of 1.83. XOS has a fifty-two week low of $5.50 and a fifty-two week high of $22.50. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.73 and a current ratio of 3.66. The business has a 50 day moving average price of $9.82 and a 200-day moving average price of $9.07.

Hedge Funds Weigh In On XOS

Hedge funds and other institutional investors have recently made changes to their positions in the business. Y Intercept Hong Kong Ltd bought a new position in XOS in the second quarter worth $81,000. UBS Group AG raised its holdings in XOS by 125.8% in the third quarter. UBS Group AG now owns 65,069 shares of the company’s stock worth $78,000 after purchasing an additional 36,254 shares in the last quarter. Jane Street Group LLC bought a new position in XOS in the fourth quarter worth $57,000. JPMorgan Chase & Co. bought a new position in XOS in the second quarter worth $54,000. Finally, Goldman Sachs Group Inc. raised its holdings in XOS by 735.3% in the second quarter. Goldman Sachs Group Inc. now owns 240,246 shares of the company’s stock worth $52,000 after purchasing an additional 211,484 shares in the last quarter. Institutional investors own 12.86% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Wedbush upped their target price on XOS to $13.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 16th. DA Davidson raised XOS from a “neutral” rating to a “buy” rating and set a $17.00 target price for the company in a research note on Monday, April 1st.

XOS Company Profile

Xos, Inc designs, manufactures, and sells battery-electric commercial vehicles. The company provides class 5-6 medium duty rolling chassis, such as commercial stepvans and armored trucks; class 7-8 heavy duty chassis; and Xos product development. It offers Xos provides mix-use powertrain solutions for off-highway, industrial and other commercial equipment, and specialty vehicles, such as school buses, medical and dental clinics, blood donation vehicles, and mobile command vehicles.