XOS (NASDAQ:XOS) Downgraded by Wall Street Zen to “Sell”

Wall Street Zen cut shares of XOS (NASDAQ:XOS) from a hold rating to a sell rating in a research note released on Saturday morning.

A number of other analysts also recently issued reports on the stock. Weiss Ratings upgraded shares of XOS from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday. Zacks Research cut shares of XOS from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 11th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Reduce”.

XOS Stock Down 18.6%

NASDAQ:XOS opened at $2.10 on Friday. 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 company has a market cap of $28.81 million, a PE ratio of -1.30 and a beta of 1.76. XOS has a 52-week low of $1.60 and a 52-week high of $8.27. The stock has a 50-day simple moving average of $2.71 and a 200 day simple moving average of $2.35.

XOS (NASDAQ:XOS) last announced its earnings results on Thursday, August 13th. The company reported ($0.55) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.02). The firm had revenue of $4.74 million during the quarter, compared to analyst estimates of $14.30 million. XOS had a negative net margin of 51.68% and a negative return on equity of 78.81%. On average, sell-side analysts expect that XOS will post -2.08 EPS for the current fiscal year.

Insider Buying and Selling

In other XOS news, major shareholder Emerald Green Trust sold 280,040 shares of the firm’s stock in a transaction that occurred on 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold 412,272 shares of company stock worth $2,240,161 over the last ninety days. Corporate insiders own 20.70% of the company’s stock.

Institutional Investors Weigh In On XOS

A number of institutional investors and hedge funds have recently made changes to their positions in XOS. Two Sigma Investments LP acquired a new stake in shares of XOS in the 3rd quarter valued at approximately $331,000. Citadel Advisors LLC acquired a new position in XOS during the third quarter worth $27,000. Geode Capital Management LLC raised its position in XOS by 29.9% during the fourth 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. DRW Securities LLC bought a new stake in XOS during the fourth quarter worth $33,000. Finally, Algert Global LLC acquired a new stake in XOS in the second quarter valued at $138,000. 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.