XL Fleet Corp. (XL) – Don’t Be So Quick to Call it Dead

83 institutions hold shares in XL Fleet Corp. (XL), with 52.37M shares held by insiders accounting for 37.65% while institutional investors hold 16.98% of the company’s shares. Institutions hold 10.59% of the Float.

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The top institutional shareholder in the company is Shaw D.E. & Co., Inc. with over 3.0 million shares valued at $71.19 million. The investor’s holdings represent 2.28% of the XL Shares outstanding. As of Dec 30, 2020, the second largest holder is Millennium Management LLC with 1.72 million shares valued at $40.72 million to account for 1.31% of the shares outstanding. The other top investors are Hudson Bay Capital Management LP which holds 1.5 million shares representing 1.14% and valued at over $35.59 million, while Encompass Capital Advisors, LLC holds 1.14% of the shares totaling 1.5 million with a market value of $35.59 million.

XL Fleet Corp. (NYSE: XL) is -63.72% lower on its value in year-to-date trading and has touched a low of $7.22 and a high of $35.00 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The XL stock was last observed hovering at around $8.36 in the last trading session, with the day’s gains setting it 0.25% off its average median price target of $16.50 for the next 12 months. It is also 62.57% off the consensus price target high of $23.00 offered by 2 analysts, but current levels are 13.9% higher than the price target low of $10.00 for the same period.

Currently trading at $8.61, the stock is -19.96% and -42.01% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 101.34 million and changing 2.99% at the moment leaves the stock -34.92% off its SMA200. XL registered -11.33% loss for a year compared to 6-month loss of -21.58%. The firm has a 50-day simple moving average (SMA 50) of $12.93 and a 200-day simple moving average (SMA200) of $14.73.

The stock witnessed a -17.84% gain in the last 1 month and extending the period to 3 months gives it a -58.92%, and is -2.38% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 15.04% over the week and 10.16% over the month.

Distance from 52-week low is 19.25% and -75.40% from its 52-week high.

XL Fleet Corp. (XL) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for XL Fleet Corp. (XL) is a “Buy”. 2 analysts offering their recommendations for the stock have an average rating of 1.00, where 0 rate it as a Hold and 0 think it is a “Overweight”. 2 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

XL Fleet Corp. quarterly earnings per share for the current quarter are estimated at -$0.03 with sales reaching $970k over the same period.The EPS is expected to grow by 63.30% this year, but quarterly earnings will post 120.60% year-over-year.

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