XOS (NASDAQ:XOS) Stock Price Up 3.4% – Time to Buy?

Xos, Inc. (NASDAQ:XOS) shot up 3.4% during trading on Monday . The stock traded as high as $3.29 and last traded at $3.17. 28,280 shares traded hands during mid-day trading, an increase of 39% from the average session volume of 20,399 shares. The stock had previously closed at $3.07.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on XOS. Northland Securities reaffirmed a “market perform” rating and issued a $5.00 price objective (down from $9.00) on shares of XOS in a research note on Monday, November 25th. Roth Mkm began coverage on shares of XOS in a research report on Wednesday, October 23rd. They set a “buy” rating and a $15.00 price target for the company. Roth Capital upgraded XOS to a “strong-buy” rating in a research note on Wednesday, October 23rd. Finally, Northland Capmk downgraded shares of XOS from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 25th. Three analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, XOS presently has a consensus rating of “Moderate Buy” and an average target price of $10.25.

XOS Stock Performance

The business’s 50 day simple moving average is $3.57 and its 200-day simple moving average is $4.55. The stock has a market capitalization of $25.48 million, a price-to-earnings ratio of -0.48 and a beta of 1.81.

Insider Buying and Selling

In other news, General Counsel Christen T. Romero sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $4.00, for a total transaction of $80,000.00. Following the sale, the general counsel now directly owns 207,642 shares in the company, valued at approximately $830,568. The trade was a 8.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Liana Pogosyan sold 7,418 shares of the firm’s stock in a transaction dated 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 position. The disclosure for this sale can be found here. Company insiders own 39.50% of the company’s stock.

About XOS

Xos, Inc is an electric mobility company engaged in manufacturing electric trucks. The firm designs and develops fully electric battery mobility systems specifically for commercial fleets. The company was founded by Dakota Semler and Giordano Sordoni on July 29, 2020 and is headquartered in Los Angeles, CA.