XOS (NASDAQ:XOS) Downgraded by Zacks Research to Hold

XOS (NASDAQ:XOS) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of XOS in a report on Wednesday, January 21st. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $7.00.

XOS Stock Performance

Shares of XOS stock opened at $2.17 on Monday. The company has a market capitalization of $24.59 million, a price-to-earnings ratio of -0.50 and a beta of 1.65. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.44 and a current ratio of 2.41. XOS has a one year low of $1.74 and a one year high of $5.60. The company’s 50-day moving average is $2.21 and its 200 day moving average is $2.50.

Insider Buying and Selling at XOS

In other news, major shareholder Emerald Green Trust sold 12,983 shares of the business’s stock in a transaction that occurred on Friday, December 5th. The shares were sold at an average price of $2.52, for a total transaction of $32,717.16. Following the completion of the transaction, the insider directly owned 1,561,229 shares of the company’s stock, valued at $3,934,297.08. The trade was a 0.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 34,243 shares of company stock worth $76,274 over the last three months. 20.90% of the stock is owned by insiders.

Institutional Investors Weigh In On XOS

Large investors have recently added to or reduced their stakes in the stock. Two Sigma Investments LP bought a new position in shares of XOS during the 3rd quarter valued at $331,000. Geode Capital Management LLC increased 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 valued at $129,000 after acquiring an additional 16,357 shares during the last quarter. DRW Securities LLC bought a new position in XOS in the fourth quarter valued at about $33,000. Finally, Citadel Advisors LLC purchased a new position in XOS in the third quarter worth about $27,000. Institutional investors own 12.86% of the company’s stock.

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.