Q1 2024 EPS Estimates for Xos, Inc. (NASDAQ:XOS) Cut by Wedbush

Xos, Inc. (NASDAQ:XOS) – Research analysts at Wedbush decreased their Q1 2024 earnings estimates for XOS in a research note issued on Monday, March 25th. Wedbush analyst D. Ives now forecasts that the company will earn ($2.19) per share for the quarter, down from their previous forecast of ($2.10). Wedbush currently has a “Outperform” rating and a $13.00 target price on the stock. The consensus estimate for XOS’s current full-year earnings is ($8.95) per share. Wedbush also issued estimates for XOS’s Q2 2024 earnings at ($2.20) EPS, Q3 2024 earnings at ($2.25) EPS, Q4 2024 earnings at ($2.25) EPS, FY2024 earnings at ($8.90) EPS and FY2025 earnings at ($4.89) EPS.

XOS Price Performance

XOS stock opened at $10.24 on Wednesday. The stock has a market capitalization of $60.62 million, a price-to-earnings ratio of -0.78 and a beta of 1.80. The stock’s fifty day simple moving average is $9.64 and its 200-day simple moving average is $9.17. XOS has a 52-week low of $5.50 and a 52-week high of $22.50. The company has a quick ratio of 1.57, a current ratio of 3.37 and a debt-to-equity ratio of 0.35.

Institutional Investors Weigh In On XOS

Several institutional investors have recently bought and sold shares of the business. Cambridge Investment Research Advisors Inc. acquired a new position in XOS during the 1st quarter worth approximately $25,000. Citigroup Inc. acquired a new stake in XOS during the 1st quarter valued at $31,000. Bank of America Corp DE increased its stake in XOS by 78.9% during the 4th quarter. Bank of America Corp DE now owns 73,157 shares of the company’s stock worth $32,000 after buying an additional 32,253 shares during the period. Renaissance Technologies LLC acquired a new position in XOS in the 4th quarter worth $36,000. Finally, American International Group Inc. purchased a new position in XOS in the 2nd quarter valued at about $47,000. 12.86% of the stock is currently owned by hedge funds and other institutional investors.

XOS Company Profile

Xos, Inc designs, manufactures, and sells battery-electric commercial vehicles. It also offers a range of services to facilitate the transition of fleets to electric vehicles, including charging infrastructure, vehicle maintenance, financing, and service. The company was founded in 2020 and is headquartered in Los Angeles, California.