Zacks: xG Technology Inc (XGTI) Given $4.00 Consensus Price Target by Brokerages
Shares of xG Technology Inc (NASDAQ:XGTI) have been given an average broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the company, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy rating.
Brokerages have set a 12-month consensus price target of $4.00 for the company, according to Zacks. Zacks has also assigned xG Technology an industry rank of 189 out of 265 based on the ratings given to related companies.
Separately, Maxim Group set a $4.00 price target on shares of xG Technology and gave the company a “buy” rating in a report on Thursday, November 16th.
A hedge fund recently bought a new stake in xG Technology stock. Dimensional Fund Advisors LP purchased a new stake in xG Technology Inc (NASDAQ:XGTI) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 72,426 shares of the Wireless communications provider’s stock, valued at approximately $117,000. Dimensional Fund Advisors LP owned approximately 0.50% of xG Technology as of its most recent SEC filing. 2.26% of the stock is owned by hedge funds and other institutional investors.
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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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