Investing

Saudi Car Dealer Aljomaih Automotive Increases Stake in Electric Vehicle Company Xos (XOS)

Fintel Staff

Published: November 17, 2022 3:53 am

Last Updated: November 17, 2022 12:29 pm

Fintel reports that Aljomaih Automotive Co. has filed a 13D/A form with the SEC disclosing ownership of 30,873,217 shares of Xos, Inc. (XOS). This represents 17.2% of the company.

In their previous filing dated August 19, 2022 they reported 27,698,614 shares and 15.90% of the company, an increase in shares of 11.46% and an increase in total ownership of 1.30% (calculated as current – previous percent ownership).

Xos, Inc. is an electric mobility company dedicated to making fleets more efficient. Xos designs and develops fully electric battery mobility systems specifically for commercial fleets. The company’s primary focus is on medium- and heavy-duty commercial vehicles that travel on “last mile” routes (i.e. predictable routes that are less than 200 miles per day).

The company leverages its proprietary technologies to provide commercial fleets zero emission vehicles that are easier to maintain and more cost-efficient on a total cost of ownership (TCO) basis than their internal combustion engine and commercial EV counterparts.

What are other large shareholders doing?

Janus Henderson Group Plc holds 2,470,278 shares representing 1.47% ownership of the company. In it’s prior filing, the firm reported owning 3,449,692 shares, representing a decrease of 39.65%. The firm decreased its portfolio allocation in XOS by 82.79% over the last quarter.

State Street Corp holds 1,304,965 shares representing 0.78% ownership of the company. In it’s prior filing, the firm reported owning 1,214,199 shares, representing an increase of 6.96%. The firm decreased its portfolio allocation in XOS by 26.01% over the last quarter.

Geode Capital Management, Llc holds 1,012,763 shares representing 0.60% ownership of the company. In it’s prior filing, the firm reported owning 989,938 shares, representing an increase of 2.25%. The firm decreased its portfolio allocation in XOS by 30.91% over the last quarter.

Northern Trust Corp holds 447,570 shares representing 0.27% ownership of the company. In it’s prior filing, the firm reported owning 472,316 shares, representing a decrease of 5.53%. The firm decreased its portfolio allocation in XOS by 78.10% over the last quarter.

Cahaba Wealth Management, Inc. holds 161,119 shares representing 0.10% ownership of the company. No change in the last quarter.

What is the overall institutional sentiment?

There are 140 funds or institutions reporting positions in Xos, Inc.. This is an increase of 59 owner(s) or 72.84%.

Average portfolio weight of all funds dedicated to Xos, Inc. is 0.0202%, a decrease of 39.1283%. Total shares owned by institutions decreased in the last three months by 2.96% to 15,489,891 shares.

This article originally appeared on Fintel