Wall Street Zen Upgrades X3 (NASDAQ:XTKG) to “Sell”

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

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of X3 in a research note on Monday, December 29th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has an average rating of “Sell”.

X3 Price Performance

Shares of NASDAQ XTKG opened at $1.22 on Friday. The stock has a 50 day moving average price of $6.14 and a 200 day moving average price of $203.03. X3 has a 52 week low of $0.04 and a 52 week high of $16.32.

Hedge Funds Weigh In On 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) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 31,417 shares of the company’s stock, valued at approximately $52,000. Citadel Advisors LLC owned about 0.23% of X3 at the end of the most recent reporting period. 1.85% of the stock is owned by institutional investors and hedge funds.

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.