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XL Fleet Corp. (NYSE: XL) Slashes -1.02%: Is This A Sign Of Things To Come?

XL Fleet Corp. (NYSE:XL) shares, rose in value on Friday, August 05, with the stock price down by -1.02% to the previous day’s close as strong demand from buyers drove the stock to $1.46.

Actively observing the price movement in the recent trading, the stock is buoying the session at $1.47, falling within a range of $1.32 and $1.51. The value of beta (5-year monthly) is 0.88. Referring to stock’s 52-week performance, its high was $7.45, and the low was $1.07. On the whole, XL has fluctuated by 26.72% over the past month.

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With the market capitalization of XL Fleet Corp. currently standing at about $210.58 million, investors are eagerly awaiting this quarter’s results, scheduled for Nov 15, 2021. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.17, which is expected to increase to -$0.16 for fiscal year -$0.66 and then to about $0 by fiscal year 2023.

Analysts have estimated the company’s revenue for the quarter at $5.7 million, with a low estimate of $5.7 million and a high estimate of $5.7 million. Wall Street analysts also predicted that in 2023, the company’s y-o-y revenues would reach $23.1 million, representing an increase of 48.10% from the revenues reported in the last year’s results.

Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that XL’s technical picture suggests that short-term indicators denote the stock is a 50% Sell on average. However, medium term indicators have put the stock in the category of 50% Sell while long term indicators on average have been pointing out that it is a 100% Sell.

The stock’s technical analysis shows that the PEG ratio is about 0, with the price of XL currently trading nearly 15.34% and 14.03% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 67.31, while the 7-day volatility ratio is showing 7.26% which for the 30-day chart, stands at 6.42%. Furthermore, XL Fleet Corp. (XL)’s average true range (ATR) is 0.09.

Data on historical trading for XL Fleet Corp. (NYSE:XL) indicates that the trading volumes over the past 10 days have averaged 0.75 million and over the past 3 months, they’ve averaged 1.80 million. According to company’s latest data on outstanding shares, there are 141.27 million shares outstanding.

Nearly 2.00% of XL Fleet Corp.’s shares belong to company insiders and institutional investors own 30.20% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 4.91 million shares as on Jul 14, 2022, resulting in a short ratio of 2.26. According to the data, the short interest in XL Fleet Corp. (XL) stood at 3.46% of shares outstanding as of Jul 14, 2022; the number of short shares registered in Jun 14, 2022 reached 9.98 million. The stock has fallen by -55.59% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the XL stock heading into the next quarter.

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