X3 (NASDAQ:XTKG) Stock Rating Lowered by Wall Street Zen

X3 (NASDAQ:XTKG) was downgraded by investment analysts at Wall Street Zen to a “strong sell” rating in a research note issued to investors on Saturday.

Separately, Weiss Ratings reissued 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 MarketBeat, the stock has a consensus rating of “Sell”.

X3 Price Performance

Shares of X3 stock opened at $0.21 on Friday. X3 has a 12-month low of $0.11 and a 12-month high of $16.32. The company’s fifty day simple moving average is $4.64 and its two-hundred day simple moving average is $8.81.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in X3 stock. Yorkville Advisors Global LP acquired a new position in shares of X3 Holdings Co., Ltd. (NASDAQ:XTKG) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 17,831 shares of the company’s stock, valued at approximately $30,000. Yorkville Advisors Global LP owned approximately 0.13% of X3 at the end of the most recent reporting period. 1.85% of the stock is owned by hedge funds and other institutional investors.

X3 Company Profile

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.