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

X3 (NASDAQ:XTKG) was downgraded by investment analysts at Wall Street Zen to a “strong sell” rating in a research report issued to clients and investors on Saturday.

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

X3 Stock Down 25.2%

NASDAQ:XTKG opened at $0.21 on Friday. The business has a 50 day simple moving average of $4.64 and a 200-day simple moving average of $8.83. X3 has a 1 year low of $0.11 and a 1 year high of $16.32.

Hedge Funds Weigh In On X3

A hedge fund recently bought a new stake in X3 stock. Citadel Advisors LLC purchased a new stake in X3 Holdings Co., Ltd. (NASDAQ:XTKG) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 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 (SEC). 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.