Xos, Inc. heads into its May 13 earnings report with the CEO, COO, and CFO all selling shares — even as the stock quietly grinds higher.
The insider activity is the clearest signal this week. The CEO and founder Dakota Semler, COO Giordano Sordoni, and CFO Liana Pogosyan all sold shares on April 10, following a larger round of sales from the same trio on March 10. Semler sold roughly 119,000 shares at $2.06 in March, then another 14,500 at $1.77 in April. Sordoni and Pogosyan followed a near-identical pattern. Net insider activity over the past 90 days runs to roughly 270,000 shares sold, worth close to $548,000 in aggregate. The values are modest in dollar terms, but the consistency — all three C-suite officers selling at multiple points as the stock traded in the low-$2 to $1.77 range — is notable context heading into a Q1 print. The stock now trades at $1.76, fractionally below those most recent sale prices.
The borrow market tells a relatively calm story, and short sellers have actually been pulling back. Short interest has fallen around 11% over the past month to 3.1% of the free float — a level that is present but not particularly aggressive. The lending pool remains far from stressed: availability is ample, and cost to borrow has drifted higher recently to 6.4%, up about 7.7% on the week and 15% on the month, but remains well within normal range for a small-cap name. The ORTEX short score of 64.9 has edged higher this week after dipping mid-month, but it is tracking well below the stock's 52-week availability peak — suggesting bears are cautious rather than pressing.
Coverage on XOS is thin and the analyst data is mixed in vintage. The sole active buy-side consensus is from a single analyst. Wedbush raised its target to $7 in August 2025 while maintaining its Outperform rating — the most recent action on record. That $7 target sits well above the current $1.76 price, though the gap reflects the stock's prolonged decline rather than a near-term re-rating. Analyst targets from other firms going back to 2024 ranged from $5 to $15, all now stale, and all well above where the stock trades. The implied return potential from the consensus $4 mean target is large, but that figure should be treated with caution given the age and dispersion of the underlying estimates.
The fundamental picture explains the caution. The last earnings print on March 26 hit the stock hard — it fell 17.6% the next day and gave up another 14.7% over the following five days. The bear case centers on collapsing deliveries: just 29 vehicles shipped in Q1 FY25 against 297 the prior quarter, with revenue of $5.9 million versus an expected $10.2 million. Non-GAAP gross margins dropped to 15% from 23.2%, partly due to tariff pressure on both vehicles and powertrain components. On the other side, Q3 FY25 saw a record 135 deliveries with contracts from UPS and FedEx providing a demand anchor, and the company reported positive free cash flow of $4.6 million that quarter. The question heading into May 13 is whether deliveries have recovered from Q1's trough or whether the tariff environment has sustained the drag.
The stock is up 2.3% on the week and 8% over the past month — a quiet recovery after the post-earnings drop. What matters most on May 13 is the delivery count and any update on tariff mitigation, given how sharply the market penalised the last miss.
See the live data behind this article on ORTEX.
Open XOS on ORTEX →ORTEX Market Intelligence content is generated by AI from a snapshot of ORTEX's proprietary data. Content is informational only and does not constitute investment advice.
