Roth Capital Reiterates “Buy” Rating for XG Technology, Inc (NASDAQ:XGTI)
XG Technology, Inc (NASDAQ:XGTI)‘s stock had its “buy” rating reissued by analysts at Roth Capital in a report released on Tuesday. They currently have a $3.50 price target on the Wireless communications provider’s stock. Roth Capital’s price target points to a potential upside of 74.13% from the stock’s current price.
Separately, Zacks Investment Research downgraded shares of XG Technology from a “buy” rating to a “hold” rating in a report on Saturday, June 3rd.
Shares of XG Technology (XGTI) traded up 1.4876% on Tuesday, reaching $2.0399. 442,922 shares of the company were exchanged. The firm’s 50 day moving average price is $1.80 and its 200 day moving average price is $1.75. XG Technology has a 52 week low of $1.17 and a 52 week high of $7.30. The stock’s market capitalization is $22.68 million.
An institutional investor recently raised its position in XG Technology stock. KCG Holdings Inc. increased its position in XG Technology, Inc (NASDAQ:XGTI) by 163.3% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 108,927 shares of the Wireless communications provider’s stock after buying an additional 67,552 shares during the period. KCG Holdings Inc. owned approximately 1.43% of XG Technology worth $176,000 as of its most recent SEC filing. Institutional investors and hedge funds own 4.61% of the company’s stock.
About XG Technology
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 is a provider of wireless video solutions to broadcast, law enforcement and defense markets, and private mobile broadband networks for use in a range of environments.
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