Xos, Inc. (NASDAQ:XOS) Short Interest Update

Xos, Inc. (NASDAQ:XOS) was the target of a significant growth in short interest during the month of May. As of May 15th, there was short interest totaling 731,889 shares, a growth of 98.5% from the April 30th total of 368,650 shares. Approximately 7.7% of the shares of the company are sold short. Based on an average daily volume of 1,217,679 shares, the short-interest ratio is currently 0.6 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Citadel Advisors LLC bought a new stake in XOS in the third quarter worth $27,000. DRW Securities LLC purchased a new stake in XOS during the fourth quarter valued at $33,000. 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 valued at $129,000 after purchasing an additional 16,357 shares in the last quarter. Finally, Two Sigma Investments LP purchased a new stake in XOS during the third quarter valued at $331,000. 12.86% of the stock is owned by hedge funds and other institutional investors.

XOS Stock Up 2.6%

Shares of XOS opened at $2.34 on Tuesday. The business’s 50 day moving average is $1.88 and its 200 day moving average is $2.09. The company has a market capitalization of $28.36 million, a PE ratio of -1.18 and a beta of 1.81. XOS has a 12-month low of $1.60 and a 12-month high of $5.60. The company has a current ratio of 1.89, a quick ratio of 0.90 and a debt-to-equity ratio of 0.51.

XOS (NASDAQ:XOS) last issued its earnings results on Thursday, May 14th. The company reported ($0.43) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.72) by $0.29. XOS had a negative return on equity of 86.90% and a negative net margin of 39.13%.The company had revenue of $11.23 million for the quarter, compared to the consensus estimate of $6.23 million. Research analysts expect that XOS will post -2.42 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on XOS shares. Zacks Research downgraded XOS from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 23rd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of XOS in a research note on Monday, April 20th. One research 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 MarketBeat, the company has an average rating of “Hold” and a consensus price target of $7.00.

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.