XTI Aerospace (NASDAQ:XTIA) Announces Quarterly Earnings Results

XTI Aerospace (NASDAQ:XTIA) posted its quarterly earnings results on Tuesday. The technology company reported ($0.07) earnings per share (EPS) for the quarter, FiscalAI reports. The business had revenue of $32.45 million during the quarter. XTI Aerospace had a negative net margin of 171.13% and a negative return on equity of 2,044.78%.

XTI Aerospace Price Performance

Shares of XTI Aerospace stock opened at $0.73 on Wednesday. XTI Aerospace has a 52 week low of $0.66 and a 52 week high of $3.19. The business has a 50 day moving average price of $1.06 and a 200-day moving average price of $1.53.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Engineers Gate Manager LP bought a new stake in XTI Aerospace during the second quarter worth $37,000. Cetera Investment Advisers purchased a new stake in XTI Aerospace in the 1st quarter valued at $30,000. Finally, AlphaCentric Advisors LLC purchased a new stake in XTI Aerospace in the 1st quarter valued at $310,000. Hedge funds and other institutional investors own 11.70% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on XTIA shares. Wall Street Zen downgraded shares of XTI Aerospace from a “hold” rating to a “sell” rating in a report on Saturday, August 29th. Weiss Ratings reiterated a “sell (e+)” rating on shares of XTI Aerospace in a report on Thursday, October 15th. One analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy”.

About XTI Aerospace

XTI Aerospace, Inc is an aerospace company developing advanced aircraft and aviation technologies. Its primary program is the TriFan 600, a vertical takeoff and landing (VTOL) business aircraft designed to combine the convenience of helicopter-style takeoff and landing with the speed and range of a conventional fixed-wing aircraft.

The TriFan 600 is being developed for business aviation and other transportation applications, with a focus on enabling point-to-point travel from airports, heliports and other suitable locations.