Zhiwang Hong Buys 218,750 Shares of Addentax Group (NASDAQ:ATXG) Stock

Addentax Group Corp. (NASDAQ:ATXG) Director Zhiwang Hong purchased 218,750 shares of Addentax Group stock in a transaction that occurred on Tuesday, August 18th. The stock was acquired at an average cost of $4.80 per share, with a total value of $1,050,000.00. Following the transaction, the director owned 225,174 shares in the company, valued at $1,080,835.20. This trade represents a 3,405.20% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Addentax Group Trading Down 5.0%

Shares of ATXG stock opened at $3.58 on Friday. The firm has a market capitalization of $4.22 million, a PE ratio of -0.91 and a beta of 0.49. The firm has a fifty day simple moving average of $3.94 and a two-hundred day simple moving average of $4.66. Addentax Group Corp. has a 12 month low of $2.91 and a 12 month high of $19.50.

Addentax Group (NASDAQ:ATXG) last released its quarterly earnings data on Friday, August 14th. The company reported $2.93 earnings per share for the quarter. The firm had revenue of $3.44 million for the quarter. Addentax Group had a negative net margin of 21.05% and a negative return on equity of 9.16%.

Institutional Investors Weigh In On Addentax Group

A number of institutional investors and hedge funds have recently bought and sold shares of ATXG. Two Sigma Investments LP purchased a new position in Addentax Group during the 3rd quarter worth $29,000. Virtu Financial LLC purchased a new stake in shares of Addentax Group in the third quarter valued at about $31,000. Jane Street Group LLC purchased a new stake in shares of Addentax Group in the second quarter valued at about $29,000. Finally, DRW Securities LLC bought a new position in shares of Addentax Group during the fourth quarter valued at about $129,000. 10.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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