XOS (NASDAQ:XOS) Stock Rating Reaffirmed by Wedbush

Posted by on Aug 13th, 2023

XOS (NASDAQ:XOS – Get Free Report)‘s stock had its “outperform” rating restated by analysts at Wedbush in a research note issued on Friday, Benzinga reports. They currently have a $4.00 price objective on the stock.

XOS Trading Down 11.9 %

XOS opened at $0.37 on Friday. The stock has a market capitalization of $63.10 million, a price-to-earnings ratio of -0.71 and a beta of 1.89. The company has a quick ratio of 1.95, a current ratio of 3.34 and a debt-to-equity ratio of 0.22. XOS has a twelve month low of $0.21 and a twelve month high of $2.05. The company has a 50-day simple moving average of $0.37 and a 200 day simple moving average of $0.54.

XOS (NASDAQ:XOS – Get Free Report) last issued its quarterly earnings results on Wednesday, May 10th. The company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.05). XOS had a negative return on equity of 89.51% and a negative net margin of 312.96%. The firm had revenue of $4.70 million for the quarter, compared to the consensus estimate of $10.78 million. Analysts predict that XOS will post -0.44 EPS for the current fiscal year.

Institutional Trading of XOS

A number of hedge funds have recently added to or reduced their stakes in XOS. State Street Corp lifted its stake in shares of XOS by 568.2% in the 2nd quarter. State Street Corp now owns 1,214,199 shares of the company’s stock valued at $2,234,000 after acquiring an additional 1,032,492 shares during the last quarter. Renaissance Technologies LLC raised its position in XOS by 2,011.0% in the second quarter. Renaissance Technologies LLC now owns 491,854 shares of the company’s stock valued at $107,000 after purchasing an additional 468,554 shares during the last quarter. Northern Trust Corp boosted its stake in shares of XOS by 406.9% during the second quarter. Northern Trust Corp now owns 472,316 shares of the company’s stock valued at $869,000 after purchasing an additional 379,139 shares in the last quarter. Jane Street Group LLC bought a new stake in shares of XOS during the fourth quarter worth about $57,000. Finally, Rhumbline Advisers acquired a new position in shares of XOS in the second quarter valued at approximately $119,000. Institutional investors and hedge funds own 12.07% of the company’s stock.

About XOS

(Get Free Report)

Xos, Inc designs, manufactures, and sells battery-electric commercial vehicles. It also offers a range of services to facilitate the transition of fleets to electric vehicles, including charging infrastructure, vehicle maintenance, financing, and service. The company was founded in 2020 and is headquartered in Los Angeles, California.

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Analyst Recommendations for XOS (NASDAQ:XOS)

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