StockNews.com Initiates Coverage on XL Fleet (NYSE:XL)

StockNews.com initiated coverage on shares of XL Fleet (NYSE:XLGet Rating) in a report released on Wednesday. The brokerage set a “sell” rating on the stock.

XL Fleet Stock Performance

NYSE:XL opened at $1.14 on Wednesday. The company has a market capitalization of $161.21 million, a PE ratio of -2.48 and a beta of 0.89. The company has a quick ratio of 5.14, a current ratio of 5.38 and a debt-to-equity ratio of 1.49. XL Fleet has a 52-week low of $0.69 and a 52-week high of $6.38. The stock has a fifty day simple moving average of $0.92 and a 200-day simple moving average of $1.14.

Insider Transactions at XL Fleet

In other news, CEO Eric M. Tech bought 50,000 shares of the business’s stock in a transaction that occurred on Friday, November 11th. The stock was purchased at an average price of $0.98 per share, with a total value of $49,000.00. Following the purchase, the chief executive officer now owns 988,481 shares of the company’s stock, valued at approximately $968,711.38. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders bought 95,000 shares of company stock valued at $96,272 in the last 90 days. 15.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in XL. Kestra Private Wealth Services LLC purchased a new stake in XL Fleet in the 1st quarter valued at about $26,000. Point72 Hong Kong Ltd grew its holdings in XL Fleet by 323.2% in the 1st quarter. Point72 Hong Kong Ltd now owns 12,993 shares of the company’s stock valued at $26,000 after buying an additional 9,923 shares during the period. Ground Swell Capital LLC purchased a new stake in XL Fleet in the 1st quarter valued at about $31,000. UBS Group AG grew its holdings in XL Fleet by 239.1% in the 2nd quarter. UBS Group AG now owns 21,216 shares of the company’s stock valued at $25,000 after buying an additional 14,959 shares during the period. Finally, Teacher Retirement System of Texas grew its holdings in XL Fleet by 60.8% in the 1st quarter. Teacher Retirement System of Texas now owns 21,674 shares of the company’s stock valued at $43,000 after buying an additional 8,198 shares during the period. Institutional investors and hedge funds own 30.34% of the company’s stock.

About XL Fleet

(Get Rating)

XL Fleet Corp. provides fleet electrification solutions for commercial vehicles in North America. Its products include hybrid electric drive systems are comprised of an electric motor that is mounted onto the vehicle's drive shaft, an inverter motor controller, and a lithium-ion battery pack to store energy to be used for propulsion; plug-in hybrid electric drive system, which are fitted to vehicles.

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