XTI Aerospace (NASDAQ:XTIA) Cut to Sell at Wall Street Zen

Key Points

• Wall Street Zen downgraded XTI Aerospace from “hold” to “sell,” while Weiss Ratings reaffirmed a “sell (e+)” rating. Despite this, the overall analyst consensus remains “Moderate Buy,” based on one Strong Buy and one Sell rating.
• XTIA shares opened at $1.35, near their one-year low of $1.22, with a market capitalization of about $52 million. The stock has declined below both its 50-day and 200-day moving averages and carries a high beta of 4.79.
• Institutional investors own 11.70% of XTI Aerospace and several funds recently increased their holdings. The early-stage aerospace company is developing the TriFan 600, a six- to eight-seat VTOL/STOL aircraft for business and specialty aviation markets.

XTI Aerospace (NASDAQ:XTIA - Get Free Report) was downgraded by investment 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 research report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, XTI Aerospace presently has an average rating of "Moderate Buy".

XTI Aerospace Stock Performance

Shares of XTIA stock opened at $1.35 on Friday. The stock has a market capitalization of $51.95 million, a price-to-earnings ratio of -0.26 and a beta of 4.79. XTI Aerospace has a one year low of $1.22 and a one year high of $3.19. The company's 50-day simple moving average is $1.53 and its 200-day simple moving average is $1.85. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.34 and a current ratio of 0.55.

Hedge Funds Weigh In On XTI Aerospace

Several institutional investors have recently made changes to their positions in the stock. State Street Corp lifted its holdings in shares of XTI Aerospace by 18.9% in the 4th quarter. State Street Corp now owns 89,403 shares of the technology company's stock worth $111,000 after purchasing an additional 14,200 shares during the last quarter. Geode Capital Management LLC grew its stake in XTI Aerospace by 47.2% during the 2nd 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 last quarter. Cetera Investment Advisers bought a new position in XTI Aerospace during the 1st quarter worth $30,000. Virtu Financial LLC acquired a new stake in XTI Aerospace in the third quarter worth $42,000. Finally, XTX Topco Ltd increased its position in XTI Aerospace by 86.1% in the fourth quarter. XTX Topco Ltd now owns 105,738 shares of the technology company's stock worth $131,000 after buying an additional 48,918 shares during the period. 11.70% of the stock is owned by institutional investors.

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.

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