XOS (NASDAQ:XOS) Shares Down 2.7%

Shares of Xos, Inc. (NASDAQ:XOS) fell 2.7% during mid-day trading on Friday . The company traded as low as $4.73 and last traded at $4.74. 22,066 shares changed hands during mid-day trading, an increase of 36% from the average session volume of 16,237 shares. The stock had previously closed at $4.87.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. DA Davidson cut shares of XOS from a “buy” rating to a “neutral” rating and dropped their target price for the company from $17.00 to $9.00 in a research report on Friday, August 16th. Wedbush dropped their price objective on XOS from $15.00 to $12.00 and set an “outperform” rating for the company in a report on Thursday, August 15th. Finally, Northland Securities restated an “outperform” rating and set a $9.00 target price (down previously from $16.00) on shares of XOS in a report on Thursday, August 15th.

XOS Trading Down 2.7 %

The company has a market capitalization of $37.32 million, a P/E ratio of -0.44 and a beta of 1.84. The company has a debt-to-equity ratio of 0.34, a current ratio of 4.99 and a quick ratio of 2.93. The business’s 50-day moving average price is $5.41 and its two-hundred day moving average price is $7.43.

XOS (NASDAQ:XOS) last posted its earnings results on Tuesday, August 13th. The company reported ($1.23) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.27) by $1.04. The firm had revenue of $15.54 million during the quarter, compared to analysts’ expectations of $18.65 million. XOS had a negative return on equity of 84.60% and a negative net margin of 76.21%. As a group, analysts forecast that Xos, Inc. will post -6.33 EPS for the current fiscal year.

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.