xG Technology Inc (NASDAQ:XGTI) business unit Integrated Microwave Technology (IMT) announced it has received a $450,000 order from a state investigation bureau located in the South Atlantic region (“the Bureau”) for the IMT Airborne Video Downlink System (“AVDS”). The system consists of an integrated suite of downlink transmitters, receivers and antennas that will be used to capture and transmit real-time, reliable high-definition video from fixed-wing aircraft for display at command centers, mobile receivers and on video management systems.
The Bureau recently acquired a new fixed-wing aircraft and determined that the IMT AVDS would be perfect to enhance its capabilities for carrying out law enforcement investigations and surveillance missions. The AVDS is known for its ability to deliver clear and stable video from extended ranges and aerial platforms.
Products featured in the AVDS include:
• Skymaster TX — a lightweight, full-featured video downlink transmitters installed with
Access RC controllers in the aircraft;
• Multiple CIRAS-x6 antenna systems installed in strategic locations;
• CIRAS and Stream Viewers on command vehicles;
• VNS-1000, IP video distribution server.
“This order solidifies IMT’s leadership as the premier choice of law enforcement agencies for supplying real-time, reliable, high-definition video capture and distribution solutions,” says John Payne IV, president of IMT. “Maintaining situational awareness is a critical aspect of law enforcement operations and the AVDS was designed to support ground personnel by providing an enhanced perspective on events from the air as they occur. We look forward to working with this new client to ensure they obtain the key tactical insights they require for their missions.” (Original Source)
Shares of XG Technology closed yesterday at $0.35, down $-0.04 or -9.09%. XGTI has a 1-year high of $3.96 and a 1-year low of $0.25. The stock’s 50-day moving average is $0.41 and its 200-day moving average is $0.83.
On the ratings front, Roth Capital analyst William Gibson reiterated a Hold rating on XGTI, with a price target of $0.50, in a report issued on November 21. The current price target represents a potential upside of 43% from where the stock is currently trading. According to TipRanks.com, Gibson has a yearly average loss of 6.8%, a 35% success rate, and is ranked #3825 out of 4271 analysts.
xG Technology, Inc. engages in the development of patented wireless communications and spectrum sharing technologies. It operates through the following segments: Broadcast, Sports and Entertainment, and Government/Surveillance. The Broadcast segment includes a line of margin receiver products including DR3, crx6, and CIRAS. The Sport and Entertainment segment offers microLite, available in both licensed and unlicensed frequency bands. The Government/Surveillance segment sells IMT, MiniMobile Commander and Mobile Commander.