XG Technology, Inc (NASDAQ:XGTI) has been given a $4.00 price target by equities researchers at Maxim Group in a research report issued on Tuesday. The brokerage presently has a “buy” rating on the Wireless communications provider’s stock. Maxim Group’s price target indicates a potential upside of 129.89% from the company’s previous close.
Several other brokerages have also recently weighed in on XGTI. Zacks Investment Research cut shares of XG Technology from a “buy” rating to a “hold” rating in a research report on Tuesday, June 20th. Roth Capital restated a “buy” rating and issued a $3.50 price target on shares of XG Technology in a research report on Tuesday, July 18th.
Shares of XG Technology (XGTI) traded down 1.15% during mid-day trading on Tuesday, hitting $1.72. 183,691 shares of the company were exchanged. The company’s market capitalization is $19.99 million. The company has a 50 day moving average of $2.07 and a 200 day moving average of $1.75. XG Technology has a 52 week low of $1.17 and a 52 week high of $7.30.
An institutional investor recently raised its position in XG Technology stock. Vanguard Group Inc. raised its stake in XG Technology, Inc (NASDAQ:XGTI) by 24.3% during the second quarter, according to its most recent filing with the SEC. The fund owned 154,905 shares of the Wireless communications provider’s stock after buying an additional 30,266 shares during the period. Vanguard Group Inc. owned about 1.39% of XG Technology worth $252,000 at the end of the most recent reporting period. 4.61% of the stock is currently owned by hedge funds and other institutional investors.
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 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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