Xos, Inc. (NASDAQ:XOS) Sees Large Growth in Short Interest

Xos, Inc. (NASDAQ:XOS) saw a large increase in short interest during the month of August. As of August 15th, there was short interest totalling 228,700 shares, an increase of 27.6% from the July 31st total of 179,300 shares. Currently, 8.6% of the company’s shares are sold short. Based on an average daily volume of 14,700 shares, the days-to-cover ratio is currently 15.6 days.

XOS Stock Performance

NASDAQ:XOS opened at $5.22 on Thursday. The company has a current ratio of 5.06, a quick ratio of 3.42 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $41.10 million, a price-to-earnings ratio of -0.49 and a beta of 1.86. The firm’s fifty day simple moving average is $6.05 and its 200 day simple moving average is $7.86. XOS has a twelve month low of $4.80 and a twelve month high of $15.00.

Wall Street Analysts Forecast Growth

XOS has been the topic of a number of research analyst reports. DA Davidson lowered shares of XOS from a “buy” rating to a “neutral” rating and decreased their price target for the company from $17.00 to $9.00 in a report on Friday, August 16th. Northland Securities reiterated an “outperform” rating and issued a $9.00 price target (down previously from $16.00) on shares of XOS in a report on Thursday, August 15th. Finally, Wedbush decreased their price target on shares of XOS from $15.00 to $12.00 and set an “outperform” rating on the stock in a report on Thursday, August 15th.

XOS Company Profile

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.