xG Technology Inc. (NASDAQ:XGTI) Receives Eye-Popping Order

xG Technology Inc. (NASDAQ:XGTI)

xG Technology Inc. (NASDAQ:XGTI) shares fell 3.80% after the leading provider of wireless video solutions for law enforcement and defense markets announced a new order for its Vislink business. The new order, worth $535,000, from NEP UK, is for the company’s latest Vislink HEVC 4K capable HCAM Wireless Camera systems.

$2 Million Pre-orders

The Focal Point Camera Control systems are to be used at the 2018 Winter Olympics in South Korea. The HCAM system represents the next generation of 4K UHD wireless transmitters which is capable of supporting premium live broadcast events.

“This commitment from NEP further solidifies our relationship, and continues to highlight the market confidence in the HCAM with pre-orders now over $2 million,” said James Walton, president of IMT, Ltd.

xG Technology Inc. (NASDAQ:XGTI) market consolidation continued in Wednesday’s trading session. While the stock is up by more than 10% for the year, it continues to trade in a range after dropping from $2.50 – recorded in July.

xG Technology Inc. (NASDAQ:XGTI)

MicroLite 2 HD Launch

Separately, xG Technology Inc. (NASDAQ:XGTI), through its business unit IMT Vislink, has introduced a compelling solution for capturing real-time, high quality on camera video for electronic newsgathering. MicroLite 2 HD is the new ultra-compact COFDM wireless video transmitter designed to provide enhanced performance and video quality at a competitive price point.

The video transmission system can deliver up to 250Mw of power and provides low range, reliable HD transmission. A key advantage of MicroLite compared to other solutions in the market is its ability to operate at low latency levels and so is well suited for live sports broadcasts and video assists applications.

“With the MicroLite 2, broadcast professionals are able to transmit high definition video within a small form factor, while utilizing its lightweight design for Steadicam operations, event coverage, confidence monitoring, web content programming, rental houses and drone use,” said John Payne IV president of IMT USA.

In addition, xG Technology Inc. (NASDAQ:XGTI) has confirmed the appointment of Eric Haney as the new Regional Sales Manager focusing on unmanned systems across all markets throughout North America. According to Mr. Payne, his expertise will be invaluable in identifying business opportunities with the government, military as well as on commercial applications where the systems can be used to deliver considerable advantages.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

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About the author: Steve Clark is a 23-year Wall St professional with stints in M&A, risk management, and algorithm trading. Steve keeps his head in the game by looking for, and writing about, small companies that often get overlooked by the big investment firms.

xG Technology Inc (NASDAQ:XGTI) Records Record Revenues – Again

xG Technology Inc (NASDAQ:XGTI)

xG Technology Inc (NASDAQ:XGTI) shares are up almost 20% on the news that it expects to report record revenue for the second quarter 2017 in the range of $14.1 million and $14.5 million. Since closing the Vislink acquisition in Q1 2017, xG Technology has recorded record revenues for two successive quarters.

xG Technology Inc (NASDAQ:XGTI)
daily bar graph for $XGTI

Roger Branton, CFO and co-founder of xG Technology, said, “xG expects to end second quarter 2017 with approximately $4.6 million in cash, and continues to work on reducing non-essential costs towards our goal of being cash flow positive for the year. We anticipate that we will report positive EBITDA (earnings before interest, taxes, depreciation and amortization) and net income for the second quarter 2017.”

Record revenues will be very welcome by xG Technology Inc (NASDAQ:XGTI) shareholders. XGTI has lost over 83% or the year, but is up 16.3% YTD. Adjusted for dilution effects, XGTI briefly traded over $100 during 2015.

xG Technology’s portfolio of brands includes Integrated Microwave Technologies (IMT), Vislink, and xMax. Together they provide wireless video solutions to broadcast, law enforcement, and defense markets. Additionally, they cater to private mobile broadband networks for use in challenging environments.

Earlier this month, xG Technology Inc (NASDAQ:XGTI) announced that its Vislink business has received an order with an approximate value of $300,000 from a leading sports broadcast organization in the Middle East region for wireless video systems. IMT reportedly is a pioneer in advanced digital microwave systems and is a trusted supplier to broadcast, sports and entertainment, and MAG (Military, Aerospace & Government) markets.

Only one investment analyst follows xG Technology Inc (NASDAQ:XGTI). They rate the shares as a “Strong Buy” with a price target of $3.50.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $XGTI and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: James Marion is a University of Houston student studying Business with a concentration in Finance. James has interned with several investment professionals and hopes to pursue a career as a professional stock analyst after graduation.