X3 (NASDAQ:XTKG) Trading Down 18.3% – What’s Next?

X3 Holdings Co., Ltd. (NASDAQ:XTKG)’s stock price was down 18.3% on Tuesday . The stock traded as low as $0.3570 and last traded at $0.4193. Approximately 4,804,995 shares changed hands during trading, a decline of 76% from the average daily volume of 19,718,160 shares. The stock had previously closed at $0.5130.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on XTKG shares. Weiss Ratings reissued a “sell (e+)” rating on shares of X3 in a research note on Monday. Wall Street Zen downgraded shares of X3 to a “strong sell” rating in a research report on Saturday, November 15th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has an average rating of “Sell”.

X3 Trading Down 18.3%

The firm has a fifty day simple moving average of $9.12 and a 200-day simple moving average of $10.38.

Institutional Trading of X3

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