XOS (NASDAQ:XOS) Stock Price 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 cut shares of XOS from a “sell (d-)” rating to a “sell (e+)” rating in a research 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 data from MarketBeat, XOS currently has an average rating of “Hold” and an average price target of $7.00.

XOS Trading Down 2.6%

The stock has a market cap of $35.63 million, a P/E ratio of -1.48 and a beta of 1.73. 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’s fifty day simple moving average is $2.67 and its 200-day simple moving average is $2.29.

XOS (NASDAQ:XOS) last announced its quarterly earnings data on Thursday, May 14th. The company reported ($0.43) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 $6.22 million. Equities research analysts expect that Xos, Inc. will post -2.29 EPS for the current fiscal year.

Insider Transactions at XOS

In other news, major shareholder Emerald Green Trust sold 280,040 shares of XOS 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 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last three months, insiders have sold 412,272 shares of company stock valued at $2,240,161. Company insiders own 20.70% of the company’s stock.

Institutional Investors Weigh In On XOS

Several institutional investors and hedge funds have recently added to or reduced their stakes in XOS. Citadel Advisors LLC bought a new stake in XOS during the third quarter worth $27,000. DRW Securities LLC bought a new position in XOS in the 4th quarter valued at $33,000. Geode Capital Management LLC grew its stake in 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 purchasing an additional 16,357 shares during the period. Finally, Two Sigma Investments LP purchased a new stake in shares of XOS during the 3rd quarter valued at $331,000. Hedge funds and other institutional investors own 12.86% of the company’s stock.

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.