XG Technology, Inc (XGTI) Shares Up 0%

XG Technology, Inc (NASDAQ:XGTI) shares shot up 0% during trading on Tuesday . The company traded as high as $1.71 and last traded at $1.53. 336,700 shares traded hands during mid-day trading, a decline of 67% from the average session volume of 1,011,081 shares. The stock had previously closed at $1.53.

Separately, Maxim Group assumed coverage on XG Technology in a research note on Wednesday, July 19th. They issued a “buy” rating and a $4.00 price target on the stock.

The company has a debt-to-equity ratio of 0.07, a current ratio of 1.99 and a quick ratio of 0.95.

Institutional investors have recently modified their holdings of the stock. KCG Holdings Inc. raised its stake in XG Technology by 163.3% during the 1st quarter. KCG Holdings Inc. now owns 108,927 shares of the Wireless communications provider’s stock worth $176,000 after buying an additional 67,552 shares during the period. Dimensional Fund Advisors LP bought a new position in shares of XG Technology in the 3rd quarter valued at about $117,000. Finally, Vanguard Group Inc. grew its holdings in shares of XG Technology by 24.3% in the 2nd quarter. Vanguard Group Inc. now owns 154,905 shares of the Wireless communications provider’s stock valued at $252,000 after acquiring an additional 30,266 shares in the last quarter. 2.18% of the stock is currently owned by institutional investors and hedge funds.

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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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