Xos, Inc. (NASDAQ:XOS) Short Interest Update

Xos, Inc. (NASDAQ:XOS) was the target of a large increase in short interest in March. As of March 31st, there was short interest totalling 159,600 shares, an increase of 53.9% from the March 15th total of 103,700 shares. Currently, 7.4% of the shares of the stock are sold short. Based on an average daily trading volume, of 18,100 shares, the days-to-cover ratio is currently 8.8 days.

Hedge Funds Weigh In On XOS

A number of institutional investors and hedge funds have recently bought and sold shares of the business. State Street Corp raised its position in shares of XOS by 568.2% during the second quarter. State Street Corp now owns 1,214,199 shares of the company’s stock worth $2,234,000 after acquiring an additional 1,032,492 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of XOS by 2,011.0% during the second quarter. Renaissance Technologies LLC now owns 491,854 shares of the company’s stock worth $107,000 after acquiring an additional 468,554 shares during the last quarter. Northern Trust Corp raised its position in shares of XOS by 406.9% during the second quarter. Northern Trust Corp now owns 472,316 shares of the company’s stock worth $869,000 after acquiring an additional 379,139 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of XOS during the second quarter worth $81,000. Finally, Goldman Sachs Group Inc. raised its position in shares of XOS by 735.3% during the second quarter. Goldman Sachs Group Inc. now owns 240,246 shares of the company’s stock worth $52,000 after acquiring an additional 211,484 shares during the last quarter. Institutional investors and hedge funds own 12.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on XOS shares. DA Davidson raised XOS from a “neutral” rating to a “buy” rating and set a $17.00 price target on the stock in a research note on Monday, April 1st. Wedbush boosted their price target on XOS to $13.00 and gave the company an “outperform” rating in a research note on Tuesday, January 16th.

XOS Price Performance

XOS stock traded up $0.08 on Friday, reaching $8.84. The company’s stock had a trading volume of 13,676 shares, compared to its average volume of 23,962. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.73 and a current ratio of 3.66. The company has a market cap of $68.49 million, a price-to-earnings ratio of -0.67 and a beta of 1.83. The business’s fifty day moving average price is $9.83 and its 200 day moving average price is $9.06. XOS has a twelve month low of $5.50 and a twelve month high of $22.50.

XOS (NASDAQ:XOS) last posted its quarterly earnings data on Thursday, March 21st. The company reported ($2.33) EPS for the quarter, topping analysts’ consensus estimates of ($2.40) by $0.07. The company had revenue of $18.38 million for the quarter, compared to analyst estimates of $18.50 million. XOS had a negative return on equity of 115.89% and a negative net margin of 170.35%. Equities analysts expect that XOS will post -8.95 earnings per share for the current fiscal year.

XOS Company Profile

Xos, Inc designs, manufactures, and sells battery-electric commercial vehicles. The company provides class 5-6 medium duty rolling chassis, such as commercial stepvans and armored trucks; class 7-8 heavy duty chassis; and Xos product development. It offers Xos provides mix-use powertrain solutions for off-highway, industrial and other commercial equipment, and specialty vehicles, such as school buses, medical and dental clinics, blood donation vehicles, and mobile command vehicles.