X3 Holdings Co., Ltd. (NASDAQ:XTKG) Sees Large Decline in Short Interest

X3 Holdings Co., Ltd. (NASDAQ:XTKG) was the recipient of a large drop in short interest during the month of March. As of March 13th, there was short interest totaling 16,008 shares, a drop of 90.4% from the February 26th total of 167,288 shares. Approximately 1.0% of the company’s shares are sold short. Based on an average daily volume of 271,806 shares, the days-to-cover ratio is currently 0.1 days. Based on an average daily volume of 271,806 shares, the days-to-cover ratio is currently 0.1 days. Approximately 1.0% of the company’s shares are sold short.

X3 Price Performance

Shares of XTKG stock traded down $0.03 on Tuesday, hitting $1.09. The stock had a trading volume of 42,764 shares, compared to its average volume of 32,701,391. The company’s 50 day moving average price is $4.24 and its 200-day moving average price is $169.92. X3 has a 1 year low of $0.04 and a 1 year high of $16.32.

Wall Street Analysts Forecast Growth

XTKG has been the subject of several research analyst reports. Wall Street Zen raised shares of X3 to a “sell” rating in a research note on Saturday, March 7th. Weiss Ratings restated a “sell (e+)” rating on shares of X3 in a report on Monday, December 29th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has an average rating of “Sell”.

Institutional Trading of X3

An institutional investor recently bought a new position in X3 stock. Citadel Advisors LLC acquired a new stake in X3 Holdings Co., Ltd. (NASDAQ:XTKG) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 31,417 shares of the company’s stock, valued at approximately $52,000. Citadel Advisors LLC owned 0.23% of X3 as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 1.85% of the company’s stock.

About X3

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.