XTI Aerospace (NASDAQ:XTIA) Upgraded by Wall Street Zen to Hold Rating

XTI Aerospace (NASDAQ:XTIA) was upgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.

Other analysts have also issued research reports about the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of XTI Aerospace in a research report on Monday, April 20th. Maxim Group raised XTI Aerospace to a “strong-buy” rating in a research report on Friday, March 20th. One analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy”.

XTI Aerospace Stock Performance

Shares of XTIA stock opened at $1.85 on Friday. The firm has a market cap of $71.19 million, a price-to-earnings ratio of -0.36 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 has a 52 week low of $1.22 and a 52 week high of $4.30. The firm’s 50-day simple moving average is $1.95 and its two-hundred day simple moving average is $1.86.

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

Hedge Funds Weigh In On XTI Aerospace

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cetera Investment Advisers purchased a new stake in shares of XTI Aerospace during the first quarter worth $30,000. Virtu Financial LLC purchased a new stake in shares of XTI Aerospace during the third quarter worth $42,000. Geode Capital Management LLC lifted its position 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 in the last quarter. State Street Corp lifted its position in shares of XTI Aerospace by 18.9% during the fourth quarter. State Street Corp now owns 89,403 shares of the technology company’s stock worth $111,000 after acquiring an additional 14,200 shares in the last quarter. Finally, Citizens Financial Group Inc. RI purchased a new stake in shares of XTI Aerospace during the fourth quarter worth $124,000. 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.