Addentax Group Stock to Reverse Split on Monday, March 30th (NASDAQ:ATXG)

Shares of Addentax Group Corp. (NASDAQ:ATXG) are going to reverse split on Monday, March 30th. The 1-15 reverse split was announced on Thursday, March 26th. The number of shares owned by shareholders will be adjusted after the market closes on Friday, March 27th.

Addentax Group Stock Performance

Shares of ATXG stock traded down $0.06 on Thursday, hitting $0.31. 480,330 shares of the company’s stock traded hands, compared to its average volume of 1,754,359. The stock has a market capitalization of $3.62 million, a price-to-earnings ratio of -0.36 and a beta of 0.90. The company’s fifty day simple moving average is $0.34 and its 200 day simple moving average is $0.52. Addentax Group has a one year low of $0.22 and a one year high of $1.86.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Addentax Group in a research note on Wednesday, January 21st. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Addentax Group has an average rating of “Sell”.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ATXG. Jane Street Group LLC bought a new position in shares of Addentax Group in the second quarter worth approximately $29,000. Two Sigma Investments LP bought a new stake in Addentax Group during the 3rd quarter valued at $29,000. Virtu Financial LLC purchased a new stake in Addentax Group during the 3rd quarter valued at $31,000. Finally, DRW Securities LLC purchased a new stake in Addentax Group during the 4th quarter valued at $129,000. Institutional investors own 10.09% of the company’s stock.

Addentax Group Company Profile

Addentax Group Corp., together with its subsidiaries, operates as a logistic service provider in China. It operates through three segments: Garment Manufacturing, Logistics Services, and Property Management and Subleasing. The company manufactures and distributes garments; and provides logistic services, such as storage, transportation, warehousing, handling, packaging, and order processing, as well as customs declaration and tax clearance services. It also offers shop subleasing and property management services for garment wholesalers and retailers in the garment market.