xG Technology, Inc. (XGTI) Soars: Stock Adds 14.8% in Session - Tale of the Tape

By Zacks Equity Research,

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xG Technology, Inc. ( XGTI ) was a big mover last session, as its shares rose nearly 15% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This breaks the trend for the company since March 11, as the stock is now trading above the volatile price range of $2.61 to $3.46.

In the last 30 days, the company witnessed two negative estimate revisions and the Zacks Consensus Estimate also moved lower, signaling trouble down the road. So make sure to keep an eye on this stock going forward to see if yesterday's rally lasts.

xG Technology currently carries a Zacks Rank #4 (Sell) while its Earnings ESP is 0.00%.

Other better-ranked stocks in the Internet software industry include Qihoo 360 Technology Co. Ltd. ( QIHU ), Smart Technologies Inc. ( SMT ) and 58.com Inc. ( WUBA ). While Qihoo 360 and Smart Technologies sport a Zacks Rank #1 (Strong Buy), 58.com carries a Zacks Rank #2 (Buy).

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: Investing , Investing Ideas , Stocks
Referenced Stocks: QIHU , SMT , WUBA , XGTI

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