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

Shares of X3 Holdings Co., Ltd. (NASDAQ:XTKG) are scheduled to reverse split before the market opens on Thursday, March 5th. The 1-30 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Wednesday, March 4th.

X3 Stock Performance

NASDAQ XTKG opened at $0.05 on Friday. X3 has a 52 week low of $0.04 and a 52 week high of $16.32. The stock’s 50 day moving average price is $0.48 and its two-hundred day moving average price is $7.27.

Analysts Set New Price Targets

Several research analysts recently commented on XTKG shares. Wall Street Zen cut shares of X3 to a “strong sell” rating in a report on Saturday, January 31st. Weiss Ratings restated a “sell (e+)” rating on shares of X3 in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has an average rating of “Sell”.

Institutional Trading of X3

A hedge fund recently bought a new stake in X3 stock. Citadel Advisors LLC purchased a new stake 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 firm purchased 31,417 shares of the company’s stock, valued at approximately $52,000. Citadel Advisors LLC owned about 0.23% of X3 at the end of the most recent reporting period. Hedge funds and other 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.