Addentax Group Corp. (NASDAQ:ATXG) Stock Short Interest Rises 330.4%

Addentax Group Corp. (NASDAQ:ATXG) saw a large growth in short interest in October. As of October 15th, there was short interest totaling 2,785 shares, a growth of 330.4% from the September 30th total of 647 shares. Approximately 0.2% of the shares of the stock are sold short. Based on an average daily volume of 4,301 shares, the short-interest ratio is currently 0.6 days.

Insider Transactions at Addentax Group

In related news, Director Zhiwang Hong acquired 218,750 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The stock was purchased at an average cost of $4.80 per share, for a total transaction of $1,050,000.00. Following the transaction, the director directly owned 225,174 shares of the company’s stock, valued at approximately $1,080,835.20. This trade represents a 3,405.20% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 2.72% of the company’s stock.

Addentax Group Trading Down 12.2%

NASDAQ:ATXG opened at $2.69 on Wednesday. The company has a 50-day moving average of $3.39 and a 200-day moving average of $4.44. Addentax Group has a twelve month low of $2.50 and a twelve month high of $10.34. The firm has a market cap of $3.17 million, a price-to-earnings ratio of -0.75 and a beta of 0.46.

Addentax Group (NASDAQ:ATXG) last posted its quarterly earnings results on Friday, August 14th. The company reported $2.93 earnings per share for the quarter. The business had revenue of $3.44 million for the quarter.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings downgraded shares of Addentax Group from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, August 3rd. One research analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

About Addentax Group

Addentax Group Corporation is a holding company whose operating subsidiaries provide garment manufacturing, logistics and property-management services. The company has also been associated with apparel-related supply-chain activities, including the production and distribution of clothing and related products.

Addentax Group’s operations have primarily been based in China, with activities focused on serving domestic businesses and consumers. Its logistics business supports the movement and delivery of goods, while its property-management activities involve services related to the operation and upkeep of managed properties.

The company is incorporated in the Cayman Islands and conducts its business through subsidiaries.