Xos, Inc. (NASDAQ:XOS) Sees Significant Growth in Short Interest

Xos, Inc. (NASDAQ:XOS) was the recipient of a significant growth in short interest during the month of January. As of January 31st, there was short interest totalling 452,700 shares, a growth of 18.9% from the January 15th total of 380,800 shares. Based on an average daily trading volume, of 31,900 shares, the days-to-cover ratio is currently 14.2 days. Currently, 16.5% of the company’s stock are sold short.

XOS Price Performance

XOS stock opened at $3.09 on Friday. The company has a 50 day moving average price of $3.27 and a 200 day moving average price of $4.22. XOS has a fifty-two week low of $2.92 and a fifty-two week high of $14.86. The stock has a market capitalization of $24.81 million, a PE ratio of -0.46 and a beta of 1.81.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Roth Capital upgraded shares of XOS to a “strong-buy” rating in a research note on Wednesday, October 23rd. Northland Securities restated a “market perform” rating and set a $5.00 price target (down previously from $9.00) on shares of XOS in a research note on Monday, November 25th. Northland Capmk cut shares of XOS from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 25th. Finally, Roth Mkm assumed coverage on shares of XOS in a research note on Wednesday, October 23rd. They set a “buy” rating and a $15.00 price target for the company. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $10.25.

Insiders Place Their Bets

In other news, 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 value of $28,707.66. Following the sale, the chief financial officer now directly owns 61,570 shares of the company’s stock, valued at approximately $238,275.90. This trade represents a 10.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Christen T. Romero sold 20,000 shares of XOS stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $4.00, for a total value of $80,000.00. Following the sale, the general counsel now directly owns 207,642 shares in the company, valued at approximately $830,568. This trade represents a 8.79 % decrease in their ownership of the stock. 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.