XOS (NASDAQ:XOS) Shares Up 9.8% – Time to Buy?

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

Wall Street Analysts Forecast Growth

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

XOS Trading Up 9.8 %

The stock has a market capitalization of $28.66 million, a PE ratio of -0.53 and a beta of 1.77. The business has a fifty day moving average price of $3.95 and a 200-day moving average price of $4.93.

Insider Activity at XOS

In other XOS news, CFO Liana Pogosyan sold 7,418 shares of the stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $3.87, for a total transaction of $28,707.66. Following the completion of the sale, the chief financial officer now owns 61,570 shares of the company’s stock, valued at $238,275.90. This represents a 10.75 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, General Counsel Christen T. Romero sold 20,000 shares of the firm’s stock in a transaction 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 completion of 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 position. The disclosure for this sale can be found here. 39.50% of the stock is owned by insiders.

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.