why XL Fleet Corp. [XL] is a Good Choice for Investors After New Price Target of $6.00

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XL Fleet Corp. [NYSE: XL] surged by $0.13 during the normal trading session on Thursday and reaching a high of $1.39 during the day while it closed the day at $1.25. The company report on May 10, 2022 that XL Fleet Announces First Quarter 2022 Financial Results.

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XL Fleet Corp. (NYSE: XL) (“XL Fleet” or the “Company”), a leading provider of fleet electrification solutions, today announced first quarter 2022 financial results.

XL Fleet Corp. stock has also loss -16.67% of its value over the past 7 days. However, XL stock has declined by -30.94% in the 3 months of the year. Over the past six months meanwhile, it has lost -76.42% and lost -62.24% year-on date.

The market cap for XL stock reached $192.12 million, with 139.58 million shares outstanding and 95.47 million shares in the current float. Compared to the average trading volume of 2.69M shares, XL reached a trading volume of 3771609 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about XL Fleet Corp. [XL]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for XL shares is $6.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on XL stock is a recommendation set at 3.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Canaccord Genuity have made an estimate for XL Fleet Corp. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on August 16, 2021. The new note on the price target was released on July 09, 2021, representing the official price target for XL Fleet Corp. stock. Previously, the target price had yet another raise to $30, while Canaccord Genuity analysts kept a Buy rating on XL stock.

The Average True Range (ATR) for XL Fleet Corp. is set at 0.14, with the Price to Sales ratio for XL stock in the period of the last 12 months amounting to 12.32. The Price to Book ratio for the last quarter was 0.48, with the Price to Cash per share for the same quarter was set at 2.29.

XL stock trade performance evaluation

XL Fleet Corp. [XL] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -16.67. With this latest performance, XL shares dropped by -26.90% in over the last four-week period, additionally sinking by -76.42% over the last 6 months – not to mention a drop of -77.68% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for XL stock in for the last two-week period is set at 35.87, with the RSI for the last a single of trading hit 35.88, and the three-weeks RSI is set at 37.14 for XL Fleet Corp. [XL]. The present Moving Average for the last 50 days of trading for this stock 1.8280, while it was recorded at 1.2540 for the last single week of trading, and 3.9095 for the last 200 days.

XL Fleet Corp. [XL]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and XL Fleet Corp. [XL] shares currently have an operating margin of -377.60 and a Gross Margin at -4.46. XL Fleet Corp.’s Net Margin is presently recorded at +184.55.

Return on Equity for this stock inclined to 10.46, with Return on Assets sitting at 7.78.

XL Fleet Corp.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 21.60 and a Current Ratio set at 22.50.

XL Fleet Corp. [XL]: Insider Ownership positions

There are presently around $41 million, or 23.50% of XL stock, in the hands of institutional investors. The top three institutional holders of XL stocks are: VANGUARD GROUP INC with ownership of 9,577,675, which is approximately 1.25% of the company’s market cap and around 5.40% of the total institutional ownership; BLACKROCK INC., holding 7,489,170 shares of the stock with an approximate value of $8.39 million in XL stocks shares; and JPMORGAN CHASE & CO, currently with $6.99 million in XL stock with ownership of nearly -9.354% of the company’s market capitalization.

Positions in XL Fleet Corp. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 70 institutional holders increased their position in XL Fleet Corp. [NYSE:XL] by around 10,140,612 shares. Additionally, 47 investors decreased positions by around 2,404,554 shares, while 21 investors held positions by with 24,434,689 shares. The mentioned changes placed institutional holdings at 36,979,855 shares, according to the latest SEC report filing. XL stock had 45 new institutional investments in for a total of 3,102,755 shares, while 18 institutional investors sold positions of 813,896 shares during the same period.