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

XTI Aerospace (NASDAQ:XTIA) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued on Sunday.

XTIA has been the topic of several other research reports. Weiss Ratings restated a “sell (e+)” rating on shares of XTI Aerospace in a report on Monday, April 20th. Maxim Group upgraded XTI Aerospace to a “strong-buy” rating in a research note on Friday, March 20th. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, XTI Aerospace has a consensus rating of “Moderate Buy”.

XTI Aerospace Price Performance

Shares of NASDAQ XTIA opened at $1.83 on Friday. XTI Aerospace has a 1 year low of $1.22 and a 1 year high of $3.46. The firm’s 50 day moving average price is $1.93 and its 200 day moving average price is $1.86. The firm has a market cap of $70.42 million, a P/E ratio of -0.35 and a beta of 4.76. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.34 and a current ratio of 0.55.

XTI Aerospace (NASDAQ:XTIA) last issued its quarterly earnings results on Wednesday, April 15th. The technology company reported ($0.45) earnings per share for the quarter, missing the consensus estimate of ($0.34) by ($0.11). The business had revenue of $18.92 million during the quarter, compared to analyst estimates of $14.50 million. XTI Aerospace had a negative net margin of 171.13% and a negative return on equity of 2,044.78%.

Institutional Investors Weigh In On XTI Aerospace

Hedge funds have recently modified their holdings of the stock. Anson Funds Management LP purchased a new stake in XTI Aerospace in the third quarter valued at approximately $1,940,000. XTX Topco Ltd raised its stake in XTI Aerospace by 86.1% during the fourth quarter. XTX Topco Ltd now owns 105,738 shares of the technology company’s stock worth $131,000 after purchasing an additional 48,918 shares during the period. Millennium Management LLC purchased a new position in XTI Aerospace during the fourth quarter worth approximately $137,000. Geode Capital Management LLC boosted its holdings in shares of XTI Aerospace by 81.3% in the 4th quarter. Geode Capital Management LLC now owns 303,459 shares of the technology company’s stock valued at $376,000 after purchasing an additional 136,104 shares during the last quarter. Finally, State Street Corp boosted its holdings in shares of XTI Aerospace by 18.9% in the 4th quarter. State Street Corp now owns 89,403 shares of the technology company’s stock valued at $111,000 after purchasing an additional 14,200 shares during the last quarter. 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.