XTI Aerospace (NASDAQ:XTIA) Lowered to Sell Rating by Wall Street Zen

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

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

XTI Aerospace Stock Up 1.3%

Shares of NASDAQ XTIA opened at $1.62 on Friday. The stock has a market capitalization of $55.91 million, a PE ratio of -0.22 and a beta of 5.37. The firm has a fifty day moving average of $1.57 and a 200-day moving average of $1.64. XTI Aerospace has a 52-week low of $0.96 and a 52-week high of $7.43.

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in XTIA. 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. Virtu Financial LLC purchased a new position in XTI Aerospace in the third quarter valued at about $42,000. Farther Finance Advisors LLC purchased a new position in XTI Aerospace in the third quarter valued at about $147,000. Citizens Financial Group Inc. RI acquired a new stake in XTI Aerospace during the 4th quarter valued at approximately $124,000. Finally, Anson Funds Management LP purchased a new stake in XTI Aerospace during the 3rd quarter worth approximately $1,940,000. 11.70% of the stock is owned by institutional investors and hedge funds.

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.