xG Technology (XGTI) Stock Rating Upgraded by ValuEngine

ValuEngine upgraded shares of xG Technology (NASDAQ:XGTI) from a strong sell rating to a sell rating in a report issued on Friday.

Separately, Maxim Group set a $4.00 target price on xG Technology and gave the company a buy rating in a research report on Thursday, November 16th.

xG Technology (XGTI) opened at $1.42 on Friday. xG Technology has a 52-week low of $1.31 and a 52-week high of $2.65. The company has a market capitalization of $20.86, a P/E ratio of -0.01 and a beta of -0.69. The company has a current ratio of 2.28, a quick ratio of 0.98 and a debt-to-equity ratio of 0.07.

xG Technology (NASDAQ:XGTI) last announced its earnings results on Tuesday, November 14th. The Wireless communications provider reported ($0.43) earnings per share (EPS) for the quarter. xG Technology had a negative net margin of 20.76% and a negative return on equity of 26.16%.

A hedge fund recently raised its stake in xG Technology stock. Vanguard Group Inc. raised its holdings in xG Technology Inc (NASDAQ:XGTI) by 24.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 154,905 shares of the Wireless communications provider’s stock after purchasing an additional 30,266 shares during the period. Vanguard Group Inc. owned about 1.39% of xG Technology worth $252,000 as of its most recent SEC filing. Institutional investors own 2.28% of the company’s stock.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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