XTI Aerospace (NASDAQ:XTIA) Posts Quarterly Earnings Results, Misses Estimates By $0.29 EPS

XTI Aerospace (NASDAQ:XTIA) issued its quarterly earnings results on Wednesday. The technology company reported ($0.61) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.29), Zacks reports. The firm had revenue of $2.48 million for the quarter, compared to the consensus estimate of $0.80 million. XTI Aerospace had a negative return on equity of 655.07% and a negative net margin of 1,714.04%.

XTI Aerospace Stock Down 4.3%

Shares of NASDAQ XTIA opened at $1.33 on Friday. The company has a market cap of $26.94 million, a price-to-earnings ratio of -0.03 and a beta of 4.84. 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. The stock has a 50-day moving average price of $1.51 and a two-hundred day moving average price of $1.86.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of XTI Aerospace in a research note on Wednesday, October 8th. One 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, the stock has an average rating of “Moderate Buy”.

Institutional Investors Weigh In On XTI Aerospace

An institutional investor recently raised its position in XTI Aerospace stock. Geode Capital Management LLC boosted its stake in XTI Aerospace, Inc. (NASDAQ:XTIA) by 47.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,424 shares of the technology company’s stock after purchasing an additional 14,240 shares during the period. Geode Capital Management LLC owned about 0.39% of XTI Aerospace worth $72,000 at the end of the most recent quarter. Institutional investors and hedge funds own 11.70% of the company’s stock.

XTI Aerospace Company Profile

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.