Short Interest in XG Technology Inc. (XGTI) Grows By 56.1%

XG Technology Inc. (NASDAQ:XGTI) saw a significant increase in short interest in the month of September. As of September 15th, there was short interest totalling 1,389,952 shares, an increase of 56.1% from the August 31st total of 890,246 shares. Currently, 8.5% of the shares of the stock are short sold. Based on an average trading volume of 1,466,358 shares, the days-to-cover ratio is presently 0.9 days.

In other XG Technology news, President Ross James Woodyatt sold 80,702 shares of the firm’s stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $0.59, for a total value of $47,614.18. Following the completion of the sale, the president now owns 469 shares of the company’s stock, valued at $276.71. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 3.69% of the stock is owned by company insiders.

XG Technology (NASDAQ:XGTI) opened at 0.3661 on Wednesday. XG Technology has a 12 month low of $0.25 and a 12 month high of $9.60. The stock has a 50 day moving average price of $0.41 and a 200-day moving average price of $0.97. The stock’s market cap is $3.03 million.

XG Technology (NASDAQ:XGTI) last issued its quarterly earnings results on Thursday, August 18th. The company reported ($0.98) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.48) by $0.50. The firm earned $1.66 million during the quarter, compared to analyst estimates of $2.50 million. On average, analysts expect that XG Technology will post ($2.99) EPS for the current year.

XGTI has been the subject of a number of recent analyst reports. Roth Capital reissued a “neutral” rating on shares of XG Technology in a report on Monday, September 12th. Zacks Investment Research upgraded XG Technology from a “hold” rating to a “buy” rating and set a $0.25 price target for the company in a research report on Wednesday, June 15th.

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’s products include xMax, CN5100 Mobile Hotspot, CN3100 Vehicle Modem, CN3200 Dual-Band Routing Modem, CN1100 Access Point, CN7000 Mobile Control Center and xMonitor/xDrive.

5 Day Chart for NASDAQ:XGTI

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