XOS (NASDAQ:XOS) Major Shareholder Sells $726,957.60 in Stock

Xos, Inc. (NASDAQ:XOS) major shareholder Emerald Green Trust sold 119,960 shares of the business’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $6.06, for a total transaction of $726,957.60. Following the sale, the insider directly owned 1,441,269 shares of the company’s stock, valued at approximately $8,734,090.14. The trade was a 7.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Emerald Green Trust also recently made the following trade(s):

• On Thursday, June 4th, Emerald Green Trust sold 280,040 shares of XOS stock. The shares were sold at an average price of $5.24, for a total transaction of $1,467,409.60.

XOS Price Performance

Shares of XOS traded down $0.54 during trading hours on Friday, reaching $4.74. 2,519,372 shares of the stock traded hands, compared to its average volume of 1,494,738. The company has a current ratio of 1.89, a quick ratio of 0.90 and a debt-to-equity ratio of 0.51. Xos, Inc. has a 52-week low of $1.60 and a 52-week high of $8.27. The company’s 50-day moving average price is $2.06 and its two-hundred day moving average price is $2.15. The company has a market cap of $57.45 million, a P/E ratio of -2.39 and a beta of 1.81.

XOS (NASDAQ:XOS) last announced its quarterly earnings results on Thursday, May 14th. The company reported ($0.43) EPS for the quarter, topping the consensus estimate of ($0.72) by $0.29. The business had revenue of $11.23 million for the quarter, compared to analysts’ expectations of $6.23 million. XOS had a negative net margin of 39.13% and a negative return on equity of 86.90%. On average, analysts anticipate that Xos, Inc. will post -2.29 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Zacks Research downgraded shares of XOS from a “strong-buy” rating to a “hold” rating in a report on Monday, February 23rd. Weiss Ratings raised XOS from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday. 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.com, the stock has a consensus rating of “Hold” and an average price target of $7.00.

Hedge Funds Weigh In On XOS

Institutional investors have recently modified their holdings of the stock. Citadel Advisors LLC purchased a new position in shares of XOS during the third quarter worth approximately $27,000. DRW Securities LLC purchased a new position in shares of XOS during the fourth quarter worth approximately $33,000. Geode Capital Management LLC increased its position in shares of 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 acquiring an additional 16,357 shares during the period. Finally, Two Sigma Investments LP purchased a new position in shares of XOS during the third quarter worth approximately $331,000. 12.86% of the stock is owned by hedge funds and other institutional investors.

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.