X3 (NASDAQ:XTKG) Upgraded to Sell at Wall Street Zen

X3 (NASDAQ:XTKG) was upgraded by Wall Street Zen to a “sell” rating in a research report issued 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.com, the stock has an average rating of “Sell”.

X3 Stock Performance

Shares of X3 stock opened at $1.22 on Friday. The firm has a fifty day simple moving average of $6.14 and a 200-day simple moving average of $205.72. X3 has a 1-year low of $0.04 and a 1-year high of $16.32.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in X3 stock. Citadel Advisors LLC acquired a new position in shares of X3 Holdings Co., Ltd. (NASDAQ:XTKG) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 31,417 shares of the company’s stock, valued at approximately $52,000. Citadel Advisors LLC owned approximately 0.23% of X3 at the end of the most recent quarter. 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.