XTI Aerospace (NASDAQ:XTIA) Share Price Passes Below 200 Day Moving Average – Here’s What Happened

XTI Aerospace, Inc. (NASDAQ:XTIA)’s stock price crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $1.64 and traded as low as $1.4750. XTI Aerospace shares last traded at $1.62, with a volume of 1,737,312 shares.

Wall Street Analysts Forecast Growth

XTIA has been the subject of several recent research reports. Weiss Ratings reissued a “sell (e+)” rating on shares of XTI Aerospace in a report on Wednesday, January 21st. Wall Street Zen cut XTI Aerospace from a “hold” rating to a “sell” rating in a research report on Saturday. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has a consensus rating of “Sell”.

XTI Aerospace Trading Up 1.3%

The company has a 50 day simple moving average of $1.57 and a two-hundred day simple moving average of $1.64. The firm has a market capitalization of $55.91 million, a P/E ratio of -0.22 and a beta of 5.37.

XTI Aerospace (NASDAQ:XTIA) last released its earnings results on Wednesday, November 19th. The technology company reported ($0.61) EPS for the quarter, missing the consensus estimate of ($0.32) by ($0.29). The company had revenue of $2.48 million during the quarter, compared to analysts’ expectations 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 hedge funds and other institutional investors have recently added to or reduced their stakes in XTIA. Geode Capital Management LLC increased its stake in XTI Aerospace by 47.2% in the 2nd 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. Virtu Financial LLC bought a new stake in XTI Aerospace in the third quarter worth $42,000. Farther Finance Advisors LLC purchased a new stake in XTI Aerospace during the third quarter valued at $147,000. Citizens Financial Group Inc. RI purchased a new stake in XTI Aerospace during the fourth quarter valued at $124,000. Finally, Anson Funds Management LP bought a new position in XTI Aerospace during the third quarter valued at $1,940,000. 11.70% of the stock is owned by institutional investors.

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.