XOS (NASDAQ:XOS) Upgraded by DA Davidson to "Buy"

XOS (NASDAQ:XOS - Get Free Report) was upgraded by research analysts at DA Davidson from a "neutral" rating to a "buy" rating in a report issued on Monday, MarketBeat Ratings reports. The firm presently has a $17.00 price target on the stock. DA Davidson's target price would indicate a potential upside of 73.82% from the company's previous close.

Separately, Wedbush boosted their target price on shares of XOS to $13.00 and gave the stock an "outperform" rating in a research report on Tuesday, January 16th. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, XOS currently has a consensus rating of "Moderate Buy" and a consensus target price of $19.50.

XOS Trading Down 4.5 %

Shares of XOS traded down $0.46 during mid-day trading on Monday, reaching $9.78. The company had a trading volume of 43,296 shares, compared to its average volume of 16,985. The stock has a market cap of $57.90 million, a price-to-earnings ratio of -0.74 and a beta of 1.83. The firm has a fifty day simple moving average of $9.72 and a 200-day simple moving average of $9.15. XOS has a fifty-two week low of $5.50 and a fifty-two week high of $22.50. The company has a current ratio of 3.37, a quick ratio of 1.57 and a debt-to-equity ratio of 0.35.

Institutional Trading of XOS

A number of hedge funds and other institutional investors have recently modified their holdings of XOS. State Street Corp grew its holdings 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 worth $2,234,000 after acquiring an additional 1,032,492 shares during the last quarter. Renaissance Technologies LLC grew its stake 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 in the last quarter. Northern Trust Corp grew its stake in XOS by 406.9% in 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. Y Intercept Hong Kong Ltd purchased a new position in XOS in the second quarter valued at about $81,000. Finally, Goldman Sachs Group Inc. grew its stake in XOS by 735.3% in the second quarter. Goldman Sachs Group Inc. now owns 240,246 shares of the company's stock valued at $52,000 after purchasing an additional 211,484 shares in the last quarter. Institutional investors own 12.86% of the company's stock.

XOS Company Profile

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.