XOS (NASDAQ:XOS) Stock Price Up 9.8% – Should You Buy?

Xos, Inc. (NASDAQ:XOS) shot up 9.8% during mid-day trading on Friday . The company traded as high as $3.67 and last traded at $3.57. 33,477 shares traded hands during mid-day trading, an increase of 4% from the average session volume of 32,039 shares. The stock had previously closed at $3.25.

Wall Street Analysts Forecast Growth

XOS has been the subject of several research reports. Northland Securities reissued a “market perform” rating and set a $5.00 price objective (down previously from $9.00) on shares of XOS in a report on Monday, November 25th. Northland Capmk lowered XOS from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 25th. Roth Capital upgraded XOS to a “strong-buy” rating in a report on Wednesday, October 23rd. Finally, Roth Mkm initiated coverage on XOS in a report on Wednesday, October 23rd. They set a “buy” rating and a $15.00 price objective on the stock. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, XOS has a consensus rating of “Moderate Buy” and an average target price of $10.25.

XOS Price Performance

The company has a 50-day moving average of $3.95 and a 200 day moving average of $4.95. The company has a market cap of $28.66 million, a PE ratio of -0.53 and a beta of 1.77.

Insider Transactions at XOS

In other news, CFO Liana Pogosyan sold 7,418 shares of the company’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $3.87, for a total transaction of $28,707.66. Following the transaction, the chief financial officer now owns 61,570 shares of the company’s stock, valued at approximately $238,275.90. This represents a 10.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, General Counsel Christen T. Romero sold 20,000 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $4.00, for a total value of $80,000.00. Following the transaction, the general counsel now owns 207,642 shares of the company’s stock, valued at approximately $830,568. The trade was a 8.79 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 39.50% of the company’s stock.

About XOS

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.