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

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

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of XTI Aerospace in a report on Wednesday, January 21st. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, XTI Aerospace has a consensus rating of “Sell”.

XTI Aerospace Trading Up 1.3%

Shares of NASDAQ XTIA opened at $1.62 on Friday. The company has a fifty day moving average price of $1.57 and a 200 day moving average price of $1.64. XTI Aerospace has a 1-year low of $0.96 and a 1-year high of $7.43. The firm has a market cap of $55.91 million, a PE ratio of -0.22 and a beta of 5.37.

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 firm had revenue of $2.48 million during the quarter, compared to the consensus estimate of $0.80 million. XTI Aerospace had a negative net margin of 1,326.49% and a negative return on equity of 580.83%.

Institutional Investors Weigh In On XTI Aerospace

Several large investors have recently made changes to their positions in the stock. Virtu Financial LLC acquired a new stake in shares of XTI Aerospace during the 3rd quarter worth about $42,000. Geode Capital Management LLC lifted its position in 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 during the last quarter. Citizens Financial Group Inc. RI acquired a new stake in XTI Aerospace during the fourth quarter worth approximately $124,000. Farther Finance Advisors LLC bought a new stake in shares of XTI Aerospace during the third quarter worth approximately $147,000. Finally, Anson Funds Management LP acquired a new position in shares of XTI Aerospace in the third quarter valued at approximately $1,940,000. Institutional investors and hedge funds own 11.70% of the company’s stock.

XTI Aerospace Company Profile

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.