X3 Acquisition Corp. Ltd. (NASDAQ:XCBE) Sees Significant Decline in Short Interest

Key Points

• Short interest fell 48.8% to 315 shares as of October 15, down from 615 shares on September 30. Short interest represented 0.0% of shares outstanding, with a 0.0-day short-interest ratio.
• Analyst sentiment remained negative: Weiss Ratings upgraded the stock from “sell (e)” to “sell (e+),” while the sole covering analyst maintained a Sell rating.
• Lineage Point Capital LP acquired 251,574 shares, valued at approximately $2.58 million and representing about 1.12% of X3 Acquisition. Shares opened at $10.05, near their 12-month high.

X3 Acquisition Corp. Ltd. (NASDAQ:XCBE - Get Free Report) was the recipient of a large decline in short interest in October. As of October 15th, there was short interest totaling 315 shares, a decline of 48.8% from the September 30th total of 615 shares. Currently, 0.0% of the company's stock are sold short. Based on an average daily volume of 26,511 shares, the short-interest ratio is currently 0.0 days.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded X3 Acquisition from a "sell (e)" rating to a "sell (e+)" rating in a research note on Tuesday, September 1st. One equities research analyst has rated the stock with a Sell rating. Based on data from MarketBeat, the stock presently has an average rating of "Sell".

Institutional Investors Weigh In On X3 Acquisition

A hedge fund recently bought a new stake in X3 Acquisition stock. Lineage Point Capital LP bought a new position in X3 Acquisition Corp. Ltd. (NASDAQ:XCBE - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 251,574 shares of the company's stock, valued at approximately $2,582,000. Lineage Point Capital LP owned about 1.12% of X3 Acquisition as of its most recent filing with the Securities & Exchange Commission.

X3 Acquisition Stock Up 0.2%

Shares of XCBE stock opened at $10.05 on Friday. The business has a 50-day moving average price of $10.03 and a two-hundred day moving average price of $9.96. X3 Acquisition has a 12-month low of $9.75 and a 12-month high of $10.04.

About X3 Acquisition

X3 Acquisition Corp. is a special purpose acquisition company (SPAC) formed to identify and complete a business combination with one or more operating businesses. Its potential transaction could take the form of a merger, share exchange, asset acquisition, reorganization or similar corporate combination.

As an acquisition company, X3 Acquisition Corp. does not appear to operate a traditional commercial business or offer products and services directly to customers. Its activities are primarily focused on evaluating potential acquisition targets and pursuing a transaction that would allow a privately held company to become publicly traded.

Publicly available information about the company's specific acquisition focus, geographic markets and leadership is limited.

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