XOS (NASDAQ:XOS) Major Shareholder Sells $726,957.60 in Stock

Xos, Inc. (NASDAQ:XOS) major shareholder Emerald Green Trust sold 119,960 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $6.06, for a total transaction of $726,957.60. Following the completion of the sale, the insider directly owned 1,441,269 shares of the company’s stock, valued at $8,734,090.14. The trade was a 7.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions 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 stock was sold at an average price of $5.24, for a total transaction of $1,467,409.60.

XOS Stock Performance

NASDAQ XOS opened at $4.74 on Monday. The company has a quick ratio of 0.90, a current ratio of 1.89 and a debt-to-equity ratio of 0.51. The firm has a market cap of $57.45 million, a PE ratio of -2.39 and a beta of 1.81. The company has a 50 day moving average price of $2.11 and a 200 day moving average price of $2.16. Xos, Inc. has a 52 week low of $1.60 and a 52 week high of $8.27.

XOS (NASDAQ:XOS) last posted its quarterly earnings data on Thursday, May 14th. The company reported ($0.43) EPS for the quarter, topping the consensus estimate of ($0.72) by $0.29. The firm had revenue of $11.23 million during the quarter, compared to analyst estimates of $6.23 million. XOS had a negative net margin of 39.13% and a negative return on equity of 86.90%. As a group, sell-side analysts forecast that Xos, Inc. will post -2.29 EPS for the current fiscal year.

Hedge Funds Weigh In On XOS

A number of institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC raised its stake in shares of XOS by 29.9% in the 4th 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 period. Two Sigma Investments LP purchased a new stake in shares of XOS in the 3rd quarter valued at approximately $331,000. DRW Securities LLC purchased a new stake in shares of XOS in the 4th quarter valued at approximately $33,000. Finally, Citadel Advisors LLC acquired a new position in shares of XOS in the 3rd quarter valued at $27,000. 12.86% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

XOS has been the subject of several recent analyst reports. Zacks Research lowered shares of XOS from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 23rd. Weiss Ratings upgraded shares of XOS from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average 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.