Xos Inc. (NASDAQ: XOS) stock fell -4.72% on Wednesday to $0.37 against a previous-day closing price of $0.39. With 0.22 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.35 million shares. During the session, the Farm & Heavy Construction Machinery company that operates in wider Industrials sector, reached to the highest price of $0.3999 whereas the lowest price it dropped to was $0.3713. The 52-week range on XOS shows that it touched its highest point at $3.25 and its lowest point at $0.37 during that stretch. It currently has a 1-year price target of $1.81.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of XOS was down-trending over the past week, with a drop of -9.66%, but this was down by -26.14% over a month. Three-month performance dropped to -54.86% while six-month performance fell -54.16%. The stock lost -85.99% in the past year, while it has lost -16.17% so far this year. A look at the trailing 12-month EPS for XOS yields -0.44 with Next year EPS estimates of -0.27. For the next quarter, that number is -0.11. This implies an EPS growth rate of -304.40% for this year and 40.90% for next year.
Float and Shares Shorts:
At present, 168.83 million XOS shares are outstanding with a float of 56.73 million shares on hand for trading. On Apr 27, 2023, short shares totaled 5.06 million, which was 2.98% higher than short shares on Mar 30, 2023. In addition to Mr. Dakota Semler as the firm’s CEO & Chairman, Mr. Giordano Sordoni serves as its Co-Founder, COO & Director.
Through their ownership of 7.56% of XOS’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 64.00% of XOS, in contrast to 4.59% held by mutual funds. Shares owned by individuals account for 1.53%. As the largest shareholder in XOS with 1.29% of the stake, The Vanguard Group, Inc. holds 2,174,570 shares worth 2,174,570. A second-largest stockholder of XOS, BlackRock Fund Advisors, holds 2,096,493 shares, controlling over 1.24% of the firm’s shares. Janus Henderson Investors US LLC is the third largest shareholder in XOS, holding 1,727,219 shares or 1.02% stake. With a 1.26% stake in XOS, the Janus Henderson Triton Fund is the largest stakeholder. A total of 2,131,405 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 0.71% of XOS stock, is the second-largest Mutual Fund holder. It holds 1,199,595 shares valued at 0.61 million. iShares Russell 2000 ETF holds 0.57% of the stake in XOS, owning 967,777 shares worth 0.49 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, XOS reported revenue of $9.77M and operating income of -$27.81M. The EBITDA in the recently reported quarter was -$45.63M and diluted EPS was -$0.06.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for XOS since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With XOS analysts setting a high price target of $4.00 and a low target of $0.35, the average target price over the next 12 months is $1.81. Based on these targets, XOS could surge 981.08% to reach the target high and fall by -5.41% to reach the target low. Reaching the average price target will result in a growth of 389.19% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded XOS stock several times over the past three months with 9 Buys and 9 Sells. In these transactions, 423,554 shares were bought while 165,965 shares were sold. The number of buy transactions has increased to 52 while that of sell transactions has risen to 27 over the past year. The total number of shares bought during that period was 4,400,918 while 378,067 shares were sold.