XOS (NASDAQ:XOS) Trading Down 18.4% – Here’s Why

Xos, Inc. (NASDAQ:XOS) dropped 18.4% during mid-day trading on Monday . The company traded as low as $3.50 and last traded at $3.50. Approximately 42,420 shares changed hands during trading, a decline of 98% from the average daily volume of 2,282,713 shares. The stock had previously closed at $4.29.

Analyst Ratings Changes

XOS has been the subject of a number of research reports. Northland Securities restated a “market perform” rating and set a $5.00 target price (down from $9.00) on shares of XOS in a research report on Monday, November 25th. Northland Capmk downgraded shares of XOS from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 25th. Three equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $10.25.

XOS Price Performance

The business’s fifty day simple moving average is $3.60 and its two-hundred day simple moving average is $4.09. The company has a market cap of $27.78 million, a PE ratio of -0.52 and a beta of 1.67.

XOS Company Profile

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.