xG Technology Inc (XGTI) Cut to “Hold” at Zacks Investment Research

xG Technology Inc (NASDAQ:XGTI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Thursday.

According to Zacks, “xG Technology, Inc. is engaged in developing communications technologies for wireless networks. Its products include xMax system, an end-to-end Internet protocol (IP) network solution. The company’s xMax system comprises xMod mobile hotspot, xAP access point, xMSC switch, xMax android application and network tools. xG Technology, Inc. is headquartered in Sarasota, Florida. “

Separately, Roth Capital raised shares of xG Technology from a “neutral” rating to a “buy” rating and set a $3.50 price objective for the company in a research note on Tuesday, January 31st.

Shares of xG Technology (NASDAQ:XGTI) traded up 1.36% during mid-day trading on Thursday, hitting $1.49. 828,096 shares of the company traded hands. The firm has a 50-day moving average price of $1.51 and a 200 day moving average price of $2.45. The firm’s market cap is $11.33 million. xG Technology has a 52-week low of $1.17 and a 52-week high of $34.68.

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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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