Home / Market Movers / XG Technology Inc (XGTI) Slides 3.75% at Midday on September 22, Weighs on Tech Sector

XG Technology Inc (XGTI) Slides 3.75% at Midday on September 22, Weighs on Tech Sector

XG Technology Inc (XGTI) lost ground during morning trading on September 22 to make it one of the worst performers amongst all NYSE and NASDAQ listed stocks in the technology sector halfway through the trading day. At the lunch break, shares of XGTI have fallen 3.75% to $0.31 after closing the day prior at $0.32. So far, the stock has traded as high as $0.32 and as low as $0.28. Today’s decline has come with about 860,184 shares changing hands, compared to an average 30-day volume of 2.2 million for XG Technology Inc. The price is currently below the 30-day volume weighted average price of $0.3 for XGTI.

The share depreciation gives the company a market capitalization of $5.43 million based upon 17.13 million shares outstanding. It also means that XGTI has a price-to-book ratio of 0.56:1.

In the past 52 weeks, shares of XGTI have traded as low as $0.3 and as high as $9.6. Technical traders will take note that at $0.31, shares of XGTI are trading below their 200-day MA at $1.44 and below their 50-day MA at $0.47. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding below them is typically regarded as bearish.

Who is XGTI?

xG Technology Inc develops portfolio of intellectual property designed to enhance wireless communications. Its intellectual property is embedded in proprietary software algorithms offering cognitive interference mitigation & spectrum access solutions. The company’s 58 employees are led by CEO George Frederick Schmitt from the corporate headquarters at 240 South Pineapple Avenue in Sarasota, FL.


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