X3 Holdings Co., Ltd. (NASDAQ:XTKG) Sees Significant Growth in Short Interest

X3 Holdings Co., Ltd. (NASDAQ:XTKG) was the target of a large increase in short interest in December. As of December 31st, there was short interest totaling 542,457 shares, an increase of 57.9% from the December 15th total of 343,460 shares. Approximately 31.2% of the shares of the stock are sold short. Based on an average daily volume of 6,629,981 shares, the days-to-cover ratio is presently 0.1 days. Based on an average daily volume of 6,629,981 shares, the days-to-cover ratio is presently 0.1 days. Approximately 31.2% of the shares of the stock are sold short.

X3 Stock Down 9.9%

Shares of NASDAQ:XTKG opened at $0.14 on Friday. X3 has a 12 month low of $0.14 and a 12 month high of $16.32. The company has a 50-day moving average price of $6.80 and a 200 day moving average price of $9.59.

Hedge Funds Weigh In On X3

An institutional investor recently bought a new position in X3 stock. Citadel Advisors LLC purchased a new position in X3 Holdings Co., Ltd. (NASDAQ:XTKG) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 as of its most recent SEC filing. 1.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently issued reports on XTKG. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of X3 in a report on Monday, December 29th. Wall Street Zen downgraded X3 to a “strong sell” rating in a research note on Saturday, November 15th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, X3 currently has an average rating of “Sell”.

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.