Zacks Research Downgrades XOS (NASDAQ:XOS) to Hold

XOS (NASDAQ:XOS) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Monday,Zacks.com reports.

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of XOS in a research note on Wednesday, January 21st. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $7.00.

XOS Stock Up 0.9%

Shares of XOS stock opened at $2.17 on Monday. The company has a current ratio of 2.41, a quick ratio of 1.44 and a debt-to-equity ratio of 0.45. XOS has a 12 month low of $1.74 and a 12 month high of $5.60. The stock has a market cap of $24.59 million, a P/E ratio of -0.50 and a beta of 1.65. The company has a 50 day simple moving average of $2.21 and a two-hundred day simple moving average of $2.50.

Insiders Place Their Bets

In other XOS news, major shareholder Emerald Green Trust sold 12,983 shares of the company’s stock in a transaction that occurred on Friday, December 5th. The shares were sold at an average price of $2.52, for a total value of $32,717.16. Following the completion of the transaction, the insider directly owned 1,561,229 shares in the company, valued at $3,934,297.08. This represents a 0.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold a total of 34,243 shares of company stock worth $76,274 over the last quarter. 20.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Two Sigma Investments LP bought a new position in XOS in the 3rd quarter worth $331,000. DRW Securities LLC bought a new stake in XOS during the fourth quarter valued at about $33,000. Geode Capital Management LLC lifted its position in shares of XOS by 29.9% in the fourth 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 in the last quarter. Finally, Citadel Advisors LLC bought a new position in shares of XOS in the third quarter worth about $27,000. 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.