XG Technology Inc. (NASDAQ:XGTI) was the target of a large increase in short interest during the month of September. As of September 15th, there was short interest totalling 1,389,952 shares, an increase of 56.1% from the August 31st total of 890,246 shares. Currently, 8.5% of the shares of the company are short sold. Based on an average daily volume of 1,466,358 shares, the short-interest ratio is presently 0.9 days.

XG Technology (NASDAQ:XGTI) opened at 0.32 on Friday. The firm’s market capitalization is $2.65 million. XG Technology has a one year low of $0.25 and a one year high of $9.60. The firm’s 50-day moving average price is $0.42 and its 200 day moving average price is $1.00.

XG Technology (NASDAQ:XGTI) last posted its quarterly earnings results on Thursday, August 18th. The company reported ($0.98) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.48) by $0.50. The firm had revenue of $1.66 million for the quarter, compared to analysts’ expectations of $2.50 million. On average, equities analysts anticipate that XG Technology will post ($2.99) earnings per share for the current fiscal year.

A number of equities analysts have commented on XGTI shares. Roth Capital restated a “neutral” rating on shares of XG Technology in a research note on Monday, September 12th. Zacks Investment Research upgraded XG Technology from a “hold” rating to a “buy” rating and set a $0.25 price target on the stock in a research note on Wednesday, June 15th.

XG Technology Company Profile

xG Technology, Inc develops a portfolio of intellectual property, which is embedded in its software algorithms that offer cognitive interference mitigation and spectrum access solutions for a range of applications using commercial off the shelf devices. The Company’s products include xMax, CN5100 Mobile Hotspot, CN3100 Vehicle Modem, CN3200 Dual-Band Routing Modem, CN1100 Access Point, CN7000 Mobile Control Center and xMonitor/xDrive.

5 Day Chart for NASDAQ:XGTI

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