XTI Aerospace (NASDAQ:XTIA) Cut to “Sell” at Wall Street Zen

Wall Street Zen cut shares of XTI Aerospace (NASDAQ:XTIA) from a hold rating to a sell rating in a research note published on Saturday.

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of XTI Aerospace in a research report on Wednesday, January 21st. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, XTI Aerospace presently has a consensus rating of “Sell”.

XTI Aerospace Stock Performance

XTIA opened at $1.82 on Friday. The stock’s 50 day moving average price is $1.57 and its 200-day moving average price is $1.63. XTI Aerospace has a one year low of $0.96 and a one year high of $7.43. The stock has a market cap of $62.81 million, a price-to-earnings ratio of -0.25 and a beta of 5.37.

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

Institutional Investors Weigh In On XTI Aerospace

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Virtu Financial LLC acquired a new position in shares of XTI Aerospace during the third quarter worth $42,000. Geode Capital Management LLC grew its stake in shares of XTI Aerospace by 47.2% during the second quarter. Geode Capital Management LLC now owns 44,424 shares of the technology company’s stock worth $72,000 after acquiring an additional 14,240 shares during the last quarter. Citizens Financial Group Inc. RI purchased a new stake in shares of XTI Aerospace during the fourth quarter worth about $124,000. Farther Finance Advisors LLC acquired a new position in shares of XTI Aerospace during the third quarter valued at about $147,000. Finally, Anson Funds Management LP purchased a new position in shares of XTI Aerospace in the 3rd quarter valued at approximately $1,940,000. Hedge funds and other institutional investors own 11.70% of the company’s stock.

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.