XOS (NASDAQ:XOS) Major Shareholder Emerald Green Trust Sells 119,960 Shares

Xos, Inc. (NASDAQ:XOS) major shareholder Emerald Green Trust sold 119,960 shares of the stock in a transaction that occurred 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 transaction, the insider owned 1,441,269 shares in the company, valued at approximately $8,734,090.14. This represents a 7.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Major shareholders that own at least 10% of a company’s shares 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 Stock Down 10.2%

XOS traded down $0.54 during trading on Friday, hitting $4.74. The stock had a trading volume of 2,519,372 shares, compared to its average volume of 1,494,738. The company has a market capitalization of $57.45 million, a PE ratio of -2.39 and a beta of 1.81. Xos, Inc. has a twelve month low of $1.60 and a twelve month high of $8.27. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.90 and a current ratio of 1.89. The stock has a 50 day simple moving average of $2.06 and a two-hundred day simple moving average of $2.15.

XOS (NASDAQ:XOS) last posted its quarterly earnings results on Thursday, May 14th. The company reported ($0.43) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.29. The business had revenue of $11.23 million during 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, research analysts predict that Xos, Inc. will post -2.29 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on XOS. Zacks Research cut shares of XOS from a “strong-buy” rating to a “hold” rating in a report on Monday, February 23rd. Weiss Ratings raised shares of XOS from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $7.00.

Institutional Trading of XOS

Several institutional investors have recently modified their holdings of the stock. DRW Securities LLC acquired a new stake in shares of XOS in the fourth quarter valued at about $33,000. Geode Capital Management LLC boosted 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 acquiring an additional 16,357 shares during the last quarter. Citadel Advisors LLC acquired a new position in XOS during the third quarter worth about $27,000. Finally, Two Sigma Investments LP acquired a new position in XOS during the third quarter worth about $331,000. Institutional investors and hedge funds own 12.86% of the company’s stock.

XOS Company Profile

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.