XTI Aerospace (NASDAQ:XTIA) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of XTI Aerospace (NASDAQ:XTIA) from a sell rating to a hold rating in a report issued on Saturday morning.

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of XTI Aerospace in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy”.

XTI Aerospace Stock Down 7.9%

Shares of XTIA stock opened at $1.63 on Friday. The firm has a 50 day moving average of $1.46 and a 200-day moving average of $1.66. The company has a market cap of $53.45 million, a price-to-earnings ratio of -0.22 and a beta of 5.28. XTI Aerospace has a 52 week low of $0.96 and a 52 week high of $7.64.

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

Hedge Funds Weigh In On XTI Aerospace

Large investors have recently added to or reduced their stakes in the business. Virtu Financial LLC purchased a new stake in shares of XTI Aerospace during the 3rd quarter valued at $42,000. Wolff Wiese Magana LLC bought a new position in XTI Aerospace during the second quarter valued at about $53,000. Geode Capital Management LLC increased its holdings in 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 buying an additional 14,240 shares during the last quarter. Farther Finance Advisors LLC bought a new stake in XTI Aerospace in the third quarter worth about $147,000. Finally, Anson Funds Management LP purchased a new position in XTI Aerospace in the third quarter valued at about $1,940,000. 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.