Insider Selling: XOS (NASDAQ:XOS) Major Shareholder Sells 280,040 Shares of Stock

Xos, Inc. (NASDAQ:XOS) major shareholder Emerald Green Trust sold 280,040 shares of the firm’s stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $5.24, for a total value of $1,467,409.60. Following the completion of the sale, the insider directly owned 1,161,229 shares in the company, valued at approximately $6,084,839.96. The trade was a 19.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Emerald Green Trust also recently made the following trade(s):

• On Wednesday, June 3rd, Emerald Green Trust sold 119,960 shares of XOS stock. The stock was sold at an average price of $6.06, for a total value of $726,957.60.

XOS Trading Down 10.2%

NASDAQ:XOS traded down $0.54 during mid-day trading on Friday, reaching $4.74. The company’s stock had a trading volume of 2,519,372 shares, compared to its average volume of 1,494,738. The company’s fifty day simple moving average is $2.06 and its two-hundred day simple moving average is $2.15. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.89 and a quick ratio of 0.90. Xos, Inc. has a twelve month low of $1.60 and a twelve month high of $8.27. The stock has a market cap of $57.45 million, a P/E ratio of -2.39 and a beta of 1.81.

XOS (NASDAQ:XOS) last released its quarterly earnings data on Thursday, May 14th. The company reported ($0.43) earnings per share for the quarter, beating the consensus estimate of ($0.72) by $0.29. The business had revenue of $11.23 million for the quarter, compared to analyst estimates of $6.23 million. XOS had a negative return on equity of 86.90% and a negative net margin of 39.13%. On average, equities analysts predict that Xos, Inc. will post -2.29 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Zacks Research lowered XOS from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 23rd. Weiss Ratings raised XOS from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday. One equities research 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $7.00.

Institutional Investors Weigh In On XOS

Several hedge funds have recently modified their holdings of the stock. Two Sigma Investments LP purchased a new stake in shares of XOS during the 3rd quarter valued at about $331,000. Geode Capital Management LLC raised its holdings 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 valued at $129,000 after buying an additional 16,357 shares during the period. DRW Securities LLC purchased a new stake in shares of XOS during the 4th quarter valued at about $33,000. Finally, Citadel Advisors LLC purchased a new stake in shares of XOS during the 3rd quarter valued at about $27,000. 12.86% of the stock is currently owned by hedge funds and other institutional investors.

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.