XOS (NASDAQ:XOS) Stock Rating Lowered by Zacks Research

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

XOS has been the subject of several other research reports. Wall Street Zen upgraded XOS to a “hold” rating in a report on Sunday, July 12th. Weiss Ratings cut shares of XOS from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, July 28th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $7.00.

XOS Stock Down 1.1%

XOS stock opened at $2.63 on Tuesday. 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 fifty-two week low of $1.60 and a fifty-two week high of $8.27. The stock’s 50 day simple moving average is $2.82 and its 200 day simple moving average is $2.35. The company has a market cap of $36.08 million, a P/E ratio of -1.33 and a beta of 1.76.

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 business had revenue of $11.23 million during the quarter, compared to analyst estimates of $6.22 million. XOS had a negative net margin of 39.13% and a negative return on equity of 86.90%. On average, research analysts expect that XOS will post -2.08 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Emerald Green Trust sold 280,040 shares of the firm’s stock in a transaction dated Thursday, June 4th. The shares were 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 trade represents a 19.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders have sold a total of 412,272 shares of company stock worth $2,240,161 in the last three months. 20.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On XOS

Several large investors have recently modified their holdings of XOS. DRW Securities LLC purchased a new stake in XOS in the fourth quarter worth $33,000. Geode Capital Management LLC grew its stake in shares of XOS by 29.9% during the 4th 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 period. Citadel Advisors LLC purchased a new stake in XOS in the 3rd quarter worth about $27,000. Finally, Two Sigma Investments LP purchased a new stake in XOS in the 3rd quarter worth about $331,000. Hedge funds and other 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.