Short Interest in Addentax Group Corp. (NASDAQ:ATXG) Decreases By 50.8%

Addentax Group Corp. (NASDAQ:ATXG) saw a large drop in short interest in the month of June. As of June 30th, there was short interest totaling 13,543 shares, a drop of 50.8% from the June 15th total of 27,514 shares. Currently, 1.4% of the company’s stock are short sold. Based on an average daily volume of 6,680 shares, the days-to-cover ratio is presently 2.0 days.

Addentax Group Price Performance

Shares of ATXG opened at $3.81 on Wednesday. Addentax Group has a one year low of $2.91 and a one year high of $19.50. The firm has a market capitalization of $3.93 million, a P/E ratio of -0.30 and a beta of 0.56. The business has a fifty day moving average of $4.38 and a 200 day moving average of $5.04.

Addentax Group (NASDAQ:ATXG) last posted its earnings results on Monday, June 29th. The company reported $0.00 earnings per share for the quarter. Addentax Group had a negative return on equity of 7.07% and a negative net margin of 83.23%.

Institutional Trading of Addentax Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Jane Street Group LLC bought a new position in Addentax Group in the second quarter worth approximately $29,000. Two Sigma Investments LP bought a new position in shares of Addentax Group in the third quarter worth about $29,000. Virtu Financial LLC purchased a new stake in shares of Addentax Group in the third quarter worth $31,000. Finally, DRW Securities LLC bought a new stake in Addentax Group in the 4th quarter valued at $129,000. 10.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Weiss Ratings downgraded shares of Addentax Group from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, July 1st. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has a consensus rating of “Sell”.

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.