XG Technology Inc (NASDAQ:XGTI) has tumbled 3.29% during the past week, however, the bigger picture is still very bullish; the stocks have advanced and posted positive gains of 28.38% in the last four weeks. The stocks have underperformed the S&P 500 by 2.13% during the past week but XG Technology Inc (NASDAQ:XGTI) it has outperformed the index in 4 weeks by 27.21%.
XG Technology Inc (NASDAQ:XGTI): The stock opened at $0.15 on Friday but the bulls could not build on the opening and the stock topped out at $0.15 for the day. The stock traded down to $0.15 during the day, due to lack of any buying support eventually closed down at $0.15 with a loss of -1.41% for the day. The stock had closed at $0.15 on the previous day. The total traded volume was 4,591,674 shares.
The company shares have dropped -94.64% from its 1 Year high price. On Jul 1, 2015, the shares registered one year high at $3.20 and the one year low was seen on May 18, 2016. The 50-Day Moving Average price is $0.14 and the 200 Day Moving Average price is recorded at $0.16.
On the companys insider trading activities, Coleman John C, director officer (President) of Xg Technology, Inc., unloaded 500,000 shares at an average price of $0.17 on June 9, 2016. The total amount of the transaction was worth $85,000, according to the disclosed information with the Securities and Exchange Commission in a Form 4 filing.
Currently the company Insiders own 41.42% of XG Technology Inc shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by -88.78% . Institutional Investors own 0.49% of XG Technology Inc shares. During last six month period, the net percent change held by insiders has seen a change of -88.78%.
xG Technology, Inc. develops a portfolio of intellectual property. The Companys intellectual property is embedded in its software algorithms that offer cognitive interference mitigation and spectrum access solutions. The Companys products include xMax, CN5100 Mobile Hotspot, CN3100 Vehicle Modem, CN3200 Dual-Band Routing Modem, CN1100 Access Point, CN7000 Mobile Control Center and xMonitor/xDrive. The Company has developed frequency-agnostic cognitive radio solutions. Its intellectual property is also designed to enable wireless broadband network operators make efficient use of existing spectrum allocations. The Company focuses on various industries across the world, such as telecommunications, cable, defense and public safety, municipal governments, critical infrastructure and markets ranging from rural to urban areas and expeditionary deployments. The implementation of its cognitive radio intellectual property is xMax.