X3 (NASDAQ:XTKG) Downgraded by Wall Street Zen to “Strong Sell”

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

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

X3 Stock Down 25.2%

Shares of NASDAQ XTKG opened at $0.21 on Friday. The company has a fifty day moving average price of $4.64 and a 200 day moving average price of $8.82. X3 has a 1-year low of $0.11 and a 1-year high of $16.32.

Institutional Investors Weigh In On X3

An institutional investor recently bought a new position in X3 stock. Yorkville Advisors Global LP bought a new position in shares of X3 Holdings Co., Ltd. (NASDAQ:XTKG) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 17,831 shares of the company’s stock, valued at approximately $30,000. Yorkville Advisors Global LP owned about 0.13% of X3 at the end of the most recent quarter. Institutional investors and hedge funds 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.