XOS (NASDAQ:XOS) Upgraded to “Strong-Buy” at Zacks Research

Zacks Research upgraded shares of XOS (NASDAQ:XOS) from a hold rating to a strong-buy rating in a research note issued to investors on Monday,Zacks.com reports.

A number of other analysts have also commented on the stock. Wall Street Zen upgraded shares of XOS to a “hold” rating in a research note on Sunday. Weiss Ratings raised shares of XOS from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $7.00.

XOS Stock Up 0.9%

Shares of NASDAQ:XOS opened at $2.36 on Monday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.90 and a current ratio of 1.89. XOS has a 52-week low of $1.60 and a 52-week high of $8.27. The business’s 50 day simple moving average is $2.82 and its two-hundred day simple moving average is $2.32. The firm has a market cap of $32.38 million, a P/E ratio of -1.19 and a beta of 1.74.

XOS (NASDAQ:XOS) last released its quarterly earnings data on Thursday, May 14th. The company reported ($0.43) EPS for the quarter, beating the consensus estimate of ($0.72) by $0.29. XOS had a negative return on equity of 86.90% and a negative net margin of 39.13%.The firm had revenue of $11.23 million during the quarter, compared to the consensus estimate of $6.22 million. As a group, research analysts forecast that XOS will post -2.29 EPS for the current fiscal year.

Insider Activity

In related news, major shareholder Emerald Green Trust sold 280,040 shares of the company’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $5.24, for a total transaction of $1,467,409.60. Following the completion of the sale, the insider owned 1,161,229 shares in the company, valued at approximately $6,084,839.96. This represents a 19.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders sold a total of 412,272 shares of company stock worth $2,240,161 over the last 90 days. 20.70% of the stock is owned by insiders.

Hedge Funds Weigh In On XOS

Several large investors have recently bought and sold shares of XOS. Citadel Advisors LLC purchased a new position in XOS during the 3rd quarter worth $27,000. DRW Securities LLC purchased a new stake in shares of XOS in the fourth quarter valued at about $33,000. Geode Capital Management LLC lifted 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 valued at $129,000 after purchasing an additional 16,357 shares in the last quarter. Finally, Two Sigma Investments LP bought a new position in shares of XOS during the third quarter valued at about $331,000. 12.86% of the stock is currently owned by 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.