Zacks Research Upgrades XOS (NASDAQ:XOS) to “Strong-Buy”

XOS (NASDAQ:XOS) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Monday,Zacks.com reports.

XOS has been the topic of a number of other reports. Wall Street Zen upgraded XOS to a “hold” rating in a report on Sunday. Weiss Ratings upgraded XOS from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $7.00.

XOS Trading Up 0.9%

XOS stock opened at $2.36 on Monday. The company has a market cap of $32.38 million, a price-to-earnings ratio of -1.19 and a beta of 1.74. 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 business has a fifty day simple moving average of $2.82 and a 200-day simple moving average of $2.32. XOS has a 52 week low of $1.60 and a 52 week high of $8.27.

XOS (NASDAQ:XOS) last issued its earnings results on Thursday, May 14th. The company reported ($0.43) earnings per share for the quarter, topping 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 business had revenue of $11.23 million for the quarter, compared to analyst estimates of $6.22 million. On average, equities research analysts expect that XOS will post -2.29 EPS for the current year.

Insider Transactions at XOS

In other XOS news, 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 transaction, the insider directly owned 1,161,229 shares of the company’s stock, valued at $6,084,839.96. This trade represents a 19.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last three months, insiders sold 412,272 shares of company stock valued at $2,240,161. 20.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On XOS

Several institutional investors and hedge funds have recently modified their holdings of XOS. Citadel Advisors LLC acquired a new stake in shares of XOS in the third quarter valued at about $27,000. DRW Securities LLC purchased a new stake in shares of XOS during the 4th quarter valued at about $33,000. Geode Capital Management LLC lifted its position in 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 in the last quarter. Finally, Two Sigma Investments LP acquired a new position in XOS during the 3rd quarter worth approximately $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.