XTI Aerospace, Inc. (NASDAQ:XTIA) Sees Large Decline in Short Interest

XTI Aerospace, Inc. (NASDAQ:XTIA) was the recipient of a large decrease in short interest during the month of September. As of September 30th, there was short interest totaling 1,420,000 shares, a decrease of 39.1% from the September 15th total of 2,330,000 shares. Based on an average daily volume of 1,740,000 shares, the days-to-cover ratio is presently 0.8 days. Currently, 4.6% of the shares of the company are short sold. Currently, 4.6% of the shares of the company are short sold. Based on an average daily volume of 1,740,000 shares, the days-to-cover ratio is presently 0.8 days.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of XTI Aerospace in a research report on Wednesday, October 8th. One 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 presently has a consensus rating of “Moderate Buy”.

XTI Aerospace Stock Up 2.1%

Shares of NASDAQ:XTIA opened at $1.46 on Friday. The stock has a 50 day moving average of $1.67 and a 200 day moving average of $1.82. The company has a current ratio of 1.11, a quick ratio of 0.99 and a debt-to-equity ratio of 0.01. XTI Aerospace has a 12-month low of $0.96 and a 12-month high of $60.00.

XTI Aerospace (NASDAQ:XTIA) last announced its quarterly earnings data on Friday, June 16th. The technology company reported ($1.43) earnings per share (EPS) for the quarter. The company had revenue of ($1.55) million for the quarter. XTI Aerospace had a negative net margin of 1,714.04% and a negative return on equity of 655.07%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Farther Finance Advisors LLC bought a new position in XTI Aerospace in the 3rd quarter worth approximately $147,000. Geode Capital Management LLC boosted 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 purchasing an additional 14,240 shares during the period. Wolff Wiese Magana LLC bought a new position in XTI Aerospace in the 2nd quarter worth approximately $53,000. Anson Funds Management LP bought a new position in XTI Aerospace in the 1st quarter worth approximately $358,000. Finally, Warberg Asset Management LLC bought a new position in XTI Aerospace in the 1st quarter worth approximately $27,000. 11.70% of the stock is currently owned by institutional investors.

About XTI Aerospace

XTI Aerospace, Inc engages in the provision of aircraft manufacturing. It primarily focuses on the light and mid-size business aircraft market. The company was founded in April 1999 and is headquartered in Englewood, CO.