XOS (NASDAQ:XOS) Trading Down 2.6% – Here’s What Happened

Xos, Inc. (NASDAQ:XOS) fell 2.6% during trading on Wednesday . The stock traded as low as $2.88 and last traded at $2.94. 108,948 shares traded hands during trading, a decline of 98% from the average daily volume of 7,026,878 shares. The stock had previously closed at $3.02.

Analyst Ratings Changes

Separately, Weiss Ratings lowered shares of XOS from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, June 23rd. One investment 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’s stock. According to MarketBeat, XOS has an average rating of “Hold” and a consensus price target of $7.00.

XOS Stock Performance

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 firm has a market cap of $32.85 million, a price-to-earnings ratio of -1.37 and a beta of 1.74. The business has a fifty day simple moving average of $2.69 and a 200-day simple moving average of $2.29.

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

Insider Activity

In other news, major shareholder Emerald Green Trust sold 280,040 shares of the firm’s stock in a transaction dated 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 transaction, the insider directly owned 1,161,229 shares in the company, valued at $6,084,839.96. This trade represents a 19.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 412,272 shares of company stock worth $2,240,161 in the last ninety days. 20.70% of the stock is owned by company insiders.

Institutional Trading of XOS

Several institutional investors have recently added to or reduced their stakes in XOS. Two Sigma Investments LP bought a new position in XOS during the 3rd quarter worth approximately $331,000. Citadel Advisors LLC acquired a new stake in shares of XOS during the third quarter worth $27,000. Geode Capital Management LLC raised its stake 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 buying an additional 16,357 shares during the last quarter. Finally, DRW Securities LLC bought a new position in XOS during the fourth quarter worth $33,000. 12.86% of the stock is currently owned by institutional investors.

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.