X3 Holdings Co., Ltd. (NASDAQ:XTKG) Sees Large Decrease in Short Interest

X3 Holdings Co., Ltd. (NASDAQ:XTKG) was the recipient of a significant decline in short interest in the month of February. As of February 13th, there was short interest totaling 181,128 shares, a decline of 72.3% from the January 29th total of 653,471 shares. Currently, 10.4% of the company’s stock are short sold. Based on an average daily trading volume, of 44,884,745 shares, the short-interest ratio is currently 0.0 days. Based on an average daily trading volume, of 44,884,745 shares, the short-interest ratio is currently 0.0 days. Currently, 10.4% of the company’s stock are short sold.

X3 Price Performance

Shares of NASDAQ XTKG opened at $0.05 on Friday. The business has a 50 day simple moving average of $0.48 and a 200 day simple moving average of $7.31. X3 has a 52 week low of $0.04 and a 52 week high of $16.32.

X3 shares are going to reverse split 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.

Institutional Trading of X3

A hedge fund recently bought a new stake in X3 stock. Citadel Advisors LLC purchased a new position in shares of X3 Holdings Co., Ltd. (NASDAQ:XTKG) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 31,417 shares of the company’s stock, valued at approximately $52,000. Citadel Advisors LLC owned approximately 0.23% of X3 as of its most recent filing with the SEC. 1.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

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.