xG Technology -7.7% post-earnings; Feltl downgrades

Up AH yesterday following its Q1 report, xG Technology (XGTI -7.7%) is now selling off. A downgrade to Hold from Feltl isn't helping.

xG spent $2.45M on R&D in Q1 (+49% Y/Y), and $1.68M on G&A (+24%). Ahead of an April stock offering that yielded gross proceeds of $10M, the company ended Q1 with just $686K in cash (down from $5.5M at the end of 2013).

Along with its Q1 results, xG announces it has been awarded a Mexican patent related to the SIP protocol (used to set up VoIP transmissions). The company now has 60 U.S. and 137 international patents/applications, of which 113 are issued patents.

Q1 results, PR

From other sites
Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs