Thunderbolt device not showing up on iMac.

I am having issues with my Thunderbolt device (Matrox MXO2 Mini) allows me to monitor HD video on an external monitor when using Final Cut Pro on my iMac. When I opened my System Profiler, it says there is no devices connected to the thunderbolt port when there is clearly one connected. Could it be a bad cable? Could the port itself be bad? I did notice the cable felt loose when connected to the port and not snug.

Any thoughts?