XTI Aerospace (NASDAQ:XTIA) Shares Cross Below Fifty Day Moving Average – Here’s Why

Shares of XTI Aerospace, Inc. (NASDAQ:XTIA) crossed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $1.80 and traded as low as $1.50. XTI Aerospace shares last traded at $1.53, with a volume of 580,847 shares trading hands.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on XTIA. Wall Street Zen lowered shares of XTI Aerospace from a “hold” rating to a “sell” rating in a report on Sunday, June 21st. Weiss Ratings reissued a “sell (e+)” rating on shares of XTI Aerospace in a research report on Monday, April 20th. Finally, Maxim Group raised XTI Aerospace to a “strong-buy” rating in a report on Friday, March 20th. One 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, the company currently has an average rating of “Moderate Buy”.

XTI Aerospace Stock Down 6.0%

The company has a debt-to-equity ratio of 0.08, a current ratio of 0.55 and a quick ratio of 0.34. The company has a market cap of $54.26 million, a price-to-earnings ratio of -0.27 and a beta of 4.75. The firm’s 50 day simple moving average is $1.78 and its 200-day simple moving average is $1.89.

XTI Aerospace (NASDAQ:XTIA) last posted its earnings results on Wednesday, April 15th. The technology company reported ($0.45) earnings per share for the quarter, missing the consensus estimate of ($0.34) by ($0.11). The firm had revenue of $18.92 million during the quarter, compared to analysts’ expectations of $14.50 million. XTI Aerospace had a negative net margin of 171.13% and a negative return on equity of 2,044.78%.

Hedge Funds Weigh In On XTI Aerospace

Institutional investors have recently modified their holdings of the business. Cetera Investment Advisers acquired a new stake in XTI Aerospace during the 1st quarter worth $30,000. Virtu Financial LLC acquired a new position in XTI Aerospace in the third quarter valued at $42,000. Geode Capital Management LLC raised its holdings in shares of XTI Aerospace by 47.2% in the second quarter. Geode Capital Management LLC now owns 44,424 shares of the technology company’s stock valued at $72,000 after buying an additional 14,240 shares during the last quarter. State Street Corp raised its holdings in shares of 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. Finally, Citizens Financial Group Inc. RI purchased a new stake in shares of XTI Aerospace in the fourth quarter valued at about $124,000. 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.