X3 Stock to Reverse Split on Thursday, March 5th (NASDAQ:XTKG)

X3 Holdings Co., Ltd. (NASDAQ:XTKG)’s stock is scheduled to reverse split on the morning of Thursday, March 5th. The 1-30 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Wednesday, March 4th.

X3 Price Performance

Shares of NASDAQ XTKG opened at $0.05 on Friday. The firm has a 50-day simple moving average of $0.48 and a two-hundred day simple moving average of $7.27. X3 has a 1 year low of $0.04 and a 1 year high of $16.32.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on XTKG shares. Wall Street Zen downgraded shares of X3 to a “strong sell” rating in a research report on Saturday, January 31st. Weiss Ratings reiterated a “sell (e+)” rating on shares of X3 in a research note on Monday, December 29th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in X3 stock. Citadel Advisors LLC acquired a new position in X3 Holdings Co., Ltd. (NASDAQ:XTKG) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor 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 & Exchange Commission. 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.