XTI Aerospace, Inc. (NASDAQ:XTIA) Short Interest Update

XTI Aerospace, Inc. (NASDAQ:XTIA) saw a large drop in short interest in March. As of March 13th, there was short interest totaling 6,462,434 shares, a drop of 13.6% from the February 26th total of 7,480,559 shares. Approximately 20.2% of the shares of the company are short sold. Based on an average trading volume of 4,344,011 shares, the days-to-cover ratio is currently 1.5 days.

Wall Street Analysts Forecast Growth

XTIA has been the topic of several research reports. Maxim Group raised XTI Aerospace to a “strong-buy” rating in a research report on Friday, March 20th. Wall Street Zen upgraded shares of XTI Aerospace from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of XTI Aerospace in a report on Wednesday, January 21st. One 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.com, the company has an average rating of “Moderate Buy”.

Institutional Trading of XTI Aerospace

Several hedge funds have recently made changes to their positions in the stock. Virtu Financial LLC acquired a new position in XTI Aerospace during the 3rd quarter valued at approximately $42,000. Geode Capital Management LLC increased its position in XTI Aerospace by 47.2% in the second quarter. Geode Capital Management LLC now owns 44,424 shares of the technology company’s stock worth $72,000 after buying an additional 14,240 shares during the period. State Street Corp lifted its stake in XTI Aerospace by 18.9% in the fourth quarter. State Street Corp now owns 89,403 shares of the technology company’s stock valued at $111,000 after buying an additional 14,200 shares during the last quarter. Citizens Financial Group Inc. RI bought a new stake in XTI Aerospace in the fourth quarter valued at $124,000. Finally, XTX Topco Ltd boosted its holdings in shares of XTI Aerospace by 86.1% during the fourth quarter. XTX Topco Ltd now owns 105,738 shares of the technology company’s stock valued at $131,000 after acquiring an additional 48,918 shares during the period. Institutional investors own 11.70% of the company’s stock.

XTI Aerospace Stock Up 7.8%

Shares of NASDAQ XTIA opened at $2.07 on Wednesday. The firm’s 50-day moving average price is $2.05 and its two-hundred day moving average price is $1.70. XTI Aerospace has a 52-week low of $0.96 and a 52-week high of $7.43. The stock has a market capitalization of $71.44 million, a P/E ratio of -0.28 and a beta of 5.36.

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.