XTI Aerospace (NASDAQ:XTIA) Rating Increased to Hold at Wall Street Zen

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

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

XTI Aerospace Price Performance

Shares of XTIA opened at $1.76 on Friday. XTI Aerospace has a 1-year low of $0.96 and a 1-year high of $8.30. The company has a market capitalization of $57.78 million, a P/E ratio of -0.24 and a beta of 5.28. The firm’s 50 day simple moving average is $1.46 and its 200 day simple moving average is $1.67.

XTI Aerospace (NASDAQ:XTIA) last issued its quarterly earnings results on Wednesday, November 19th. The technology company reported ($0.61) EPS for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.29). The company had revenue of $2.48 million during 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

A number of large investors have recently added to or reduced their stakes in the business. Virtu Financial LLC bought a new stake in XTI Aerospace in the third quarter worth $42,000. Wolff Wiese Magana LLC bought a new stake in shares of XTI Aerospace in the 2nd quarter valued at about $53,000. Geode Capital Management LLC lifted its stake in shares of XTI Aerospace by 47.2% in the 2nd quarter. Geode Capital Management LLC now owns 44,424 shares of the technology company’s stock valued at $72,000 after acquiring an additional 14,240 shares during the last quarter. Farther Finance Advisors LLC purchased a new stake in XTI Aerospace during the 3rd quarter valued at about $147,000. Finally, Anson Funds Management LP purchased a new position in XTI Aerospace in the 3rd quarter worth approximately $1,940,000. Hedge funds and other 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.