5 Penny Stocks to Buy in April

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1. Xos, Inc. (NASDAQ:XOS)

Number of Hedge Fund Holders: 16

Share Price as of April 6: $2.8503

Xos, Inc. (NASDAQ:XOS) was founded in 2020 and is headquartered in Los Angeles, California. It operates as a mobility solutions company, manufacturing and marketing battery EVs and charging infrastructure. Xos, Inc. (NASDAQ:XOS) also offers maintenance and vehicle financing services. The stock has surged over 32% in the last month. 

On April 5, Xos, Inc. (NASDAQ:XOS) announced that it had delivered 15 of its battery-electric vans to five different FedEx Corporation (NYSE:FDX) Ground Operators in Southern California during March. Xos, Inc. (NASDAQ:XOS) will dispatch more vehicles to the company in 2022. 

Xos, Inc. (NASDAQ:XOS) reported on March 29 its fourth quarter earnings. The revenue of $3.3 million was up 266.7% from the prior-year quarter, exceeding market consensus by $0.44 million. The Q4 EPS of $0.07 also beat estimates by $0.19. The company announced delivering 32 units to customers in Q4 2021, and 44 units in the entire year.

According to Insider Monkey’s Q4 data, 16 hedge funds were bullish on Xos, Inc. (NASDAQ:XOS), with stakes valued at $5.5 million. Himanshu Gulati’s Antara Capital held a prominent position in the company, with 500,000 shares worth $1.5 million.

You can also take a look 10 Stocks Trending on Robinhood and 10 Best Biotech Stocks Under $5

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