Time to Reconsider XG Technology Inc (NASDAQ:XGTI) After Less Short Sellers?

June 15, 2018 - By Vivian Park

xG Technology, Inc. (NASDAQ:XGTI) Logo

The stock of XG Technology Inc (NASDAQ:XGTI) registered a decrease of 2.88% in short interest. XGTI’s total short interest was 1.08M shares in June as published by FINRA. Its down 2.88% from 1.12M shares, reported previously. With 129,000 shares average volume, it will take short sellers 8 days to cover their XGTI’s short positions.

The stock increased 0.36% or $0.003 during the last trading session, reaching $0.749. About 21,446 shares traded. xG Technology, Inc. (NASDAQ:XGTI) has declined 61.96% since June 15, 2017 and is downtrending. It has underperformed by 74.53% the S&P500.

xG Technology, Inc. designs, develops, and delivers advanced wireless communications solutions worldwide. The company has market cap of $12.10 million. It offers electronic news gathering, wireless camera, portable microwave, and fixed point to point systems for the broadcasting market; wireless camera systems and mobile radios for the sports and entertainment market; and wireless video solutions, including manned and unmanned aerial and ground systems, mobile and handheld receive systems, and transmitters for the government/surveillance market. It currently has negative earnings. The firm also provides microwave radio components, and satellite communication and associated amplifier products.

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