Short Interest in XTI Aerospace, Inc. (NASDAQ:XTIA) Expands By 84.6%

XTI Aerospace, Inc. (NASDAQ:XTIA) saw a significant growth in short interest in the month of January. As of January 15th, there was short interest totaling 7,148,462 shares, a growth of 84.6% from the December 31st total of 3,872,042 shares. Based on an average daily trading volume, of 3,343,539 shares, the short-interest ratio is presently 2.1 days. Approximately 22.4% of the company’s stock are short sold. Approximately 22.4% of the company’s stock are short sold. Based on an average daily trading volume, of 3,343,539 shares, the short-interest ratio is presently 2.1 days.

Analysts Set New Price Targets

Several brokerages have recently weighed in on XTIA. Wall Street Zen upgraded shares of XTI Aerospace from a “sell” rating to a “hold” rating in a research note on Saturday, January 10th. Weiss Ratings restated a “sell (e+)” rating on shares of XTI Aerospace in a research note on Wednesday, January 21st. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently has a consensus rating of “Sell”.

XTI Aerospace Trading Down 5.1%

XTIA stock opened at $1.67 on Friday. The stock’s 50 day simple moving average is $1.56 and its 200 day simple moving average is $1.66. XTI Aerospace has a 12-month low of $0.96 and a 12-month high of $7.43. The firm has a market cap of $57.63 million, a P/E ratio of -0.23 and a beta of 5.28.

XTI Aerospace (NASDAQ:XTIA) last released its quarterly earnings data on Wednesday, November 19th. The technology company reported ($0.61) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($0.29). XTI Aerospace had a negative return on equity of 580.83% and a negative net margin of 1,326.49%.The business had revenue of $2.48 million for the quarter, compared to analyst estimates of $0.80 million.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of XTIA. Citizens Financial Group Inc. RI acquired a new stake in XTI Aerospace in the fourth quarter worth about $124,000. Anson Funds Management LP bought a new stake in shares of XTI Aerospace during the 3rd quarter worth about $1,940,000. Virtu Financial LLC acquired a new stake in shares of XTI Aerospace in the 3rd quarter worth approximately $42,000. Farther Finance Advisors LLC bought a new position in shares of XTI Aerospace in the third quarter valued at approximately $147,000. Finally, Geode Capital Management LLC increased 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 acquiring an additional 14,240 shares during the period. 11.70% of the stock is owned by institutional investors and hedge funds.

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.