xG Technology, Inc. (NASDAQ:XGTI) closed with change of 5.21% to $1.01 with the total traded volume of 663283 shares versus to an average volume of 225.26K. The stock was down in the 5 days activity -2.88%. The one month performance of stock was low -27.34%. XGTI shares are below -37.07% for the quarter and driving a -30.82% over the course of the past year and is now down -37.65% since this point in 2018. The average volatility for the week and month was at 20.14% 10.80% respectively. Right now XGTI beta is -1.05.
xG Technology, Inc. (NASDAQ:XGTI, XGTIW), a leading provider of wireless video solutions to broadcast, law enforcement and defense markets, and private mobile broadband networks for critical communications, reported that its IMT Vislink business unit has shipped 50 HCAM 4K UHD units during Q1 2018. The Company expects to deliver over 200 HCAM systems over the course of 2018.
George Schmitt, CEO and Board Chairman of xG Technology said “I am pleased to report that the issues that prevented us from delivering HCAMs in Q4 2017 have been rectified, and the backordered systems began shipping in Q1 2018”. “We are confident that these represent the first volume worldwide commercial shipments of 4K systems in the industry. Delivery of the balance of the backordered systems will be complete by the end of Q2, and we expect to average at least 50 units per quarter for the balance of the year. It is likely we will exceed those numbers, as we have orders and preorders for 200 units in hand now.”
Mr. Schmitt continued, “We are extremely proud of the work done by our engineering and production personnel, given the substantial complexity and sophistication of these systems. In fact, according to Rob Williamson, one of the hardware engineers in our IMT Vislink unit, ‘The board is not only a major technical achievement. It’s also a work of art.'”
Mr. Schmitt concluded, “Having successfully begun delivery of the HCAM systems reaffirms our leadership in developing, productizing and deploying wireless broadcast technology innovations. The IMT Vislink HCAM represents the product segment leader in terms of performance and features and, based on what we know, we will have the smallest, lightest weight and lowest power consumption system in the market. We will continue to keep the market informed on the progress we make in supplying HCAM systems to the market.”
HCAM systems will be on display in IMT Vislink’s booth (Booth C6008) at NAB 2018 in Las Vegas from April 9-12, 2018.
Shares of xG Technology, Inc. have been recently spotted trading -61.89% off of the 52-week high price. On the other end, company shares have been noted 53.96% away from the low price over the last 52-weeks. 52 week range of the stock remained $ 0.66 – 2.65. Switching over to some distances from popular moving averages, we see that the stock has been recorded -26.65% away from the 50 day moving average and -38.88% away from the 200 day moving average. Moving closer, we can see that shares have been trading -21.85% off of the 20-day moving average.