XTI Aerospace (NASDAQ:XTIA) Stock Price Crosses Above Fifty Day Moving Average – What’s Next?

XTI Aerospace, Inc. (NASDAQ:XTIA)’s stock price crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $1.99 and traded as high as $2.04. XTI Aerospace shares last traded at $1.92, with a volume of 1,978,196 shares traded.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Wall Street Zen downgraded shares of XTI Aerospace from a “hold” rating to a “sell” rating in a research report on Saturday, May 23rd. Maxim Group upgraded shares of XTI Aerospace to a “strong-buy” rating in a report on Friday, March 20th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of XTI Aerospace in a report on Monday, April 20th. One equities research 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, XTI Aerospace currently has a consensus rating of “Moderate Buy”.

XTI Aerospace Trading Down 7.2%

The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.34 and a current ratio of 0.55. The firm’s fifty day simple moving average is $1.97 and its 200-day simple moving average is $1.84. The stock has a market cap of $69.65 million, a P/E ratio of -0.35 and a beta of 4.76.

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in XTIA. Geode Capital Management LLC raised its holdings 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 purchasing an additional 14,240 shares during the last quarter. Virtu Financial LLC bought a new position in XTI Aerospace during the third quarter worth $42,000. Anson Funds Management LP bought a new position in XTI Aerospace during the third quarter worth $1,940,000. Citizens Financial Group Inc. RI bought a new position in XTI Aerospace during the fourth quarter worth $124,000. Finally, State Street Corp boosted its stake in XTI Aerospace by 18.9% during the fourth quarter. State Street Corp now owns 89,403 shares of the technology company’s stock worth $111,000 after acquiring an additional 14,200 shares in the last quarter. Institutional investors own 11.70% of the company’s stock.

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.