Short Interest in XTI Aerospace, Inc. (NASDAQ:XTIA) Drops By 39.1%

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

XTI Aerospace Price Performance

XTIA opened at $1.43 on Thursday. The company’s 50 day moving average is $1.68 and its 200-day moving average is $1.81. XTI Aerospace has a 1-year low of $0.96 and a 1-year high of $60.00. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.99 and a current ratio of 1.11.

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

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of XTI Aerospace in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy”.

Institutional Investors Weigh In On XTI Aerospace

Several hedge funds have recently added to or reduced their stakes in XTIA. Warberg Asset Management LLC acquired a new stake in XTI Aerospace during the 1st quarter worth approximately $27,000. Wolff Wiese Magana LLC acquired a new stake in XTI Aerospace during the 2nd quarter worth approximately $53,000. Geode Capital Management LLC boosted its position 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 period. Farther Finance Advisors LLC acquired a new stake in XTI Aerospace during the 3rd quarter worth approximately $147,000. Finally, Anson Funds Management LP acquired a new stake in XTI Aerospace during the 1st quarter worth approximately $358,000. 11.70% of the stock is currently owned by institutional investors and hedge funds.

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.