Xos Inc. (XOS) shares jumped nearly 12% in Wednesday premarket trading after the electric commercial vehicle maker announced a $3 million follow-on order for its mobile energy storage and charging units.

Xos Wins $3 Million Follow-On Order

Xos said Tuesday it received a follow-on purchase order worth about $3 million for 12 Xos Hub mobile energy storage and charging systems from a leading autonomous fleet operator. The systems will support the customer's expansion across North America and Europe. Xos noted the order follows its first European Hub deliveries earlier this year and highlights growing demand for mobile charging solutions that can be deployed without costly utility upgrades or permanent infrastructure.

Chief Executive Officer Dakota Semler said the order validates the product's performance and Xos's ability to help fleets scale quickly as charging infrastructure demand increases. The company expects additional opportunities as the customer expands into new markets.

Technical Analysis

From a trend perspective, Xos remains in a strong intermediate-term uptrend. The stock is trading 39% above its 20-day simple moving average of $2.84 and 68.9% above its 200-day simple moving average of $2.34. Those levels suggest buyers remain in control, and the broader trend is still moving higher.

However, the longer-term picture remains somewhat mixed. The 50-day simple moving average is still below the 200-day simple moving average. That setup often signals a stock is still working through a longer base-building phase despite recent strength.

Momentum indicators also remain supportive. The relative strength index, or RSI, stands at 54.71, which is firmly in neutral territory. That reading suggests the recent premarket rally has not yet pushed the stock into overbought conditions. In general, an RSI near the middle of its range indicates a stock can continue trending without facing immediate momentum-related selling pressure.

On the upside, key resistance sits at $8.27, which marks the stock's 52-week high reached in June. A decisive move above that level could signal continued bullish momentum.

On the downside, initial support is near $3.16, close to the 20-day exponential moving average. In a rising trend, that area could serve as the first major pullback zone for buyers looking to step back into the stock.

Price Action

Xos shares were up 11.73% at $4.00 during premarket trading on Wednesday, according to market data.