X3 (NASDAQ:XTKG) Cut to “Strong Sell” at Wall Street Zen

Wall Street Zen lowered shares of X3 (NASDAQ:XTKG) to a strong sell rating in a report released on Saturday morning.

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of X3 in a report on Monday, December 29th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has a consensus rating of “Sell”.

X3 Trading Up 55.5%

NASDAQ XTKG opened at $0.33 on Friday. X3 has a 1 year low of $0.11 and a 1 year high of $16.32. The company has a fifty day moving average price of $4.42 and a 200-day moving average price of $8.74.

Institutional Investors Weigh In On X3

A hedge fund recently bought a new stake in X3 stock. Citadel Advisors LLC purchased a new position in shares of X3 Holdings Co., Ltd. (NASDAQ:XTKG) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 31,417 shares of the company’s stock, valued at approximately $52,000. Citadel Advisors LLC owned about 0.23% of X3 as of its most recent filing with the Securities and Exchange Commission. Institutional investors own 1.85% of the company’s stock.

X3 Company Profile

X3 Acquisition Corporation (NASDAQ: XTKG) is a special purpose acquisition company, or blank check company, formed to raise capital through an initial public offering for the purpose of effecting a merger, capital stock exchange, asset acquisition or other business combination. The company does not engage in any commercial operations and holds its net proceeds in a trust account until a qualifying transaction is completed.

Trading on the Nasdaq Capital Market since its initial public offering, X3 Acquisition Corporation’s units represent the right to receive shares of common stock upon the company’s completion of a business combination.