Addentax Group Corp. (NASDAQ:ATXG) Short Interest Update

Addentax Group Corp. (NASDAQ:ATXG) was the recipient of a large decline in short interest during the month of August. As of August 14th, there was short interest totaling 4,716 shares, a decline of 35.9% from the July 30th total of 7,355 shares. Currently, 0.4% of the company’s stock are short sold. Based on an average daily volume of 15,768 shares, the days-to-cover ratio is currently 0.3 days.

Insiders Place Their Bets

In other Addentax Group news, Director Zhiwang Hong acquired 218,750 shares of the company’s stock in a transaction on Tuesday, August 18th. The shares were purchased at an average price of $4.80 per share, for a total transaction of $1,050,000.00. Following the completion of the purchase, the director directly owned 225,174 shares of the company’s stock, valued at approximately $1,080,835.20. This represents a 3,405.20% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.72% of the company’s stock.

Hedge Funds Weigh In On Addentax Group

Several institutional investors have recently made changes to their positions in the stock. Jane Street Group LLC bought a new stake in Addentax Group in the 2nd quarter valued at about $29,000. Two Sigma Investments LP acquired a new stake in Addentax Group in the third quarter valued at approximately $29,000. Virtu Financial LLC acquired a new stake in Addentax Group in the third quarter valued at approximately $31,000. Finally, DRW Securities LLC bought a new stake in shares of Addentax Group during the fourth quarter valued at approximately $129,000. Institutional investors and hedge funds own 10.09% of the company’s stock.

Analyst Upgrades and Downgrades

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

Addentax Group Stock Down 3.7%

ATXG stock opened at $3.42 on Wednesday. The firm has a market cap of $4.04 million, a price-to-earnings ratio of -0.87 and a beta of 0.50. The company’s fifty day simple moving average is $3.76 and its 200 day simple moving average is $4.55. Addentax Group has a 12-month low of $2.91 and a 12-month high of $19.50.

Addentax Group (NASDAQ:ATXG) last posted 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 during the quarter. Addentax Group had a negative return on equity of 9.16% and a negative net margin of 21.05%.

About Addentax Group

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.