XG Technology Inc. (XGTI) Upgraded to “Buy” at Zacks Investment Research
XG Technology Inc. (NASDAQ:XGTI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday. The brokerage presently has a $0.50 target price on the stock. Zacks Investment Research’s target price indicates a potential upside of 49.08% from the company’s previous close.
According to Zacks, “xG Technology, Inc. is engaged in developing communications technologies for wireless networks. Its products include xMax system, an end-to-end Internet protocol (IP) network solution. The company’s xMax system comprises xMod mobile hotspot, xAP access point, xMSC switch, xMax android application and network tools. xG Technology, Inc. is headquartered in Sarasota, Florida. “
Separately, Roth Capital reissued a “neutral” rating and set a $0.50 target price on shares of XG Technology in a research report on Sunday, October 23rd.
Shares of XG Technology (NASDAQ:XGTI) opened at 0.3354 on Thursday. XG Technology has a 52 week low of $0.25 and a 52 week high of $4.08. The stock’s market cap is $6.47 million. The company’s 50-day moving average is $0.37 and its 200 day moving average is $0.78.
In related news, President Ross James Woodyatt sold 80,702 shares of the company’s stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $0.59, for a total value of $47,614.18. Following the sale, the president now directly owns 469 shares of the company’s stock, valued at $276.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.69% of the stock is currently owned by corporate insiders.
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.
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