XTI Aerospace, Inc. (NASDAQ:XTIA) Short Interest Up 46.3% in December

XTI Aerospace, Inc. (NASDAQ:XTIA) was the target of a large growth in short interest in the month of December. As of December 15th, there was short interest totaling 3,265,863 shares, a growth of 46.3% from the November 30th total of 2,232,758 shares. Currently, 10.8% of the company’s shares are sold short. Based on an average daily trading volume, of 1,217,931 shares, the days-to-cover ratio is currently 2.7 days. Based on an average daily trading volume, of 1,217,931 shares, the days-to-cover ratio is currently 2.7 days. Currently, 10.8% of the company’s shares are sold short.

Wall Street Analyst Weigh In

XTIA has been the subject of a number of research reports. Weiss Ratings reissued a “sell (e+)” rating on shares of XTI Aerospace in a research report on Wednesday, October 8th. Wall Street Zen downgraded shares of XTI Aerospace from a “hold” rating to a “sell” rating in a research report on Saturday, December 6th. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, XTI Aerospace presently has a consensus rating of “Moderate Buy”.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in XTIA. Virtu Financial LLC purchased a new position in shares of XTI Aerospace in the third quarter valued at $42,000. Wolff Wiese Magana LLC acquired a new position in XTI Aerospace in the 2nd quarter worth $53,000. Geode Capital Management LLC lifted its holdings in XTI Aerospace by 47.2% in the 2nd quarter. Geode Capital Management LLC now owns 44,424 shares of the technology company’s stock worth $72,000 after buying an additional 14,240 shares in the last quarter. Farther Finance Advisors LLC purchased a new position in XTI Aerospace in the 3rd quarter valued at about $147,000. Finally, Anson Funds Management LP acquired a new stake in shares of XTI Aerospace during the first quarter valued at about $358,000. 11.70% of the stock is owned by institutional investors and hedge funds.

XTI Aerospace Price Performance

NASDAQ:XTIA opened at $1.26 on Wednesday. The business’s 50-day moving average is $1.46 and its two-hundred day moving average is $1.75. The firm has a market capitalization of $41.32 million, a PE ratio of -0.17 and a beta of 5.20. XTI Aerospace has a 12 month low of $0.96 and a 12 month high of $60.00.

XTI Aerospace (NASDAQ:XTIA) last posted its earnings results on Wednesday, November 19th. The technology company reported ($0.61) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.29). The company had revenue of $2.48 million during the quarter, compared to analyst estimates of $0.80 million. XTI Aerospace had a negative net margin of 1,326.49% and a negative return on equity of 580.83%.

About XTI Aerospace

XTI Aerospace Inc (NASDAQ: XTIA) is an early‐stage aerospace company headquartered in Englewood, Colorado, focused on the design and development of vertical takeoff and landing (VTOL) aircraft for the business and specialty aviation markets. The company’s core mission is to deliver a next‐generation hybrid wing–body aircraft capable of both VTOL and short-takeoff and landing (STOL) operations, addressing the growing demand for point-to-point air transportation without the need for traditional airport infrastructure.

The company’s flagship product, the TriFan 600, is a six- to eight-seat business aircraft powered by a proprietary tri-fan propulsion system.