Christen T. Romero, the General Counsel of Xos, Inc. (NASDAQ:XOS), recently sold 20,000 shares of the company's common stock. The transaction comes as the stock shows significant volatility, having declined over 55% in the past year and currently trading near its 52-week low of $3.65. The sales, which took place on December 2, 2024, were executed at a weighted average price of $4.0002 per share, generating a total of $80,004. Following this transaction, Romero holds 207,642 shares, which includes 194,241 unvested restricted stock units (RSUs). According to InvestingPro analysis, the company currently faces challenges with weak gross profit margins of 14.3% and significant cash burn, though its liquid assets exceed short-term obligations with a current ratio of 1.94. The transaction details, including the range of prices from $3.85 to $4.21, are available for review by the Securities and Exchange Commission or interested shareholders upon request. For deeper insights into insider trading patterns and comprehensive financial analysis, InvestingPro subscribers can access detailed Pro Research Reports covering 1,400+ US stocks, including XOS.
In other recent news, XOS Inc. has been downgraded from "Outperform" to "Market Perform" by Northland, which also reduced its price target for the electric vehicle company from $9.00 to $5.00. This change in rating and price target follows a review of XOS's third-quarter 2024 financial results and recent developments, such as the announcement of a new customer.
The revised evaluation is based on a comparison with the company's peers, using the average multiple of these competitors applied to XOS's projected fiscal year 2026 sales. Northland also provided an updated outlook for the fiscal years 2024, 2025, and 2026, considering the company's recent performance and the potential impact of the new customer on future operations and financial results.
XOS reported a slight revenue increase in its Q3 earnings call, marking a fifth consecutive quarter of positive gross margins. The company reported a Q3 revenue of $15.8 million, a 1.6% increase from the previous quarter, and delivered 94 units. For Q4, XOS has revised its revenue guidance to between $54.1 million and $67.6 million and expects unit deliveries to range from 320 to 400 units.
These recent developments reflect XOS Inc.'s ongoing strategy to enhance operational efficiency and financial stability in the electric vehicle market. The company maintains its position as a key supplier for FedEx (NYSE:FDX) and UPS and continues to see traction with its Xos Hub product. As Xos navigates the market, it remains focused on optimizing inventory management, managing potential disruptions from upcoming tariff changes, and enhancing working capital management.
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