XTI Aerospace, Inc. (NASDAQ:XTIA) Sees Significant Drop in Short Interest

XTI Aerospace, Inc. (NASDAQ:XTIA) was the recipient of a significant drop in short interest during the month of September. As of September 30th, there was short interest totaling 1,420,000 shares, a drop of 39.1% from the September 15th total of 2,330,000 shares. Based on an average daily volume of 1,740,000 shares, the days-to-cover ratio is currently 0.8 days. Approximately 4.6% of the shares of the company are short sold. Approximately 4.6% of the shares of the company are short sold. Based on an average daily volume of 1,740,000 shares, the days-to-cover ratio is currently 0.8 days.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of XTI Aerospace in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, XTI Aerospace has an average rating of “Moderate Buy”.

XTI Aerospace Price Performance

XTIA stock opened at $1.46 on Wednesday. The company has a current ratio of 1.11, a quick ratio of 0.99 and a debt-to-equity ratio of 0.01. XTI Aerospace has a 1 year low of $0.96 and a 1 year high of $60.00. The stock’s fifty day moving average is $1.69 and its two-hundred day moving average is $1.82.

XTI Aerospace (NASDAQ:XTIA) last posted its earnings results on Friday, June 16th. The technology company reported ($1.43) earnings per share (EPS) for the quarter. The company had revenue of ($1.55) million during the quarter. XTI Aerospace had a negative net margin of 1,714.04% and a negative return on equity of 655.07%.

Institutional Investors Weigh In On XTI Aerospace

A number of hedge funds have recently added to or reduced their stakes in XTIA. Anson Funds Management LP bought a new stake in XTI Aerospace in the first quarter valued at $358,000. Farther Finance Advisors LLC bought a new stake in shares of XTI Aerospace during the third quarter valued at about $147,000. Wolff Wiese Magana LLC bought a new stake in shares of XTI Aerospace during the second quarter valued at about $53,000. Warberg Asset Management LLC bought a new stake in shares of XTI Aerospace during the first quarter valued at about $27,000. Finally, Geode Capital Management LLC raised its stake 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 valued at $72,000 after purchasing an additional 14,240 shares in the last quarter. 11.70% of the stock is currently owned by institutional investors.

About XTI Aerospace

XTI Aerospace, Inc engages in the provision of aircraft manufacturing. It primarily focuses on the light and mid-size business aircraft market. The company was founded in April 1999 and is headquartered in Englewood, CO.