Short Interest in Addentax Group Corp. (NASDAQ:ATXG) Declines By 91.9%

Addentax Group Corp. (NASDAQ:ATXG) was the target of a significant drop in short interest in August. As of August 31st, there was short interest totaling 384 shares, a drop of 91.9% from the August 15th total of 4,716 shares. Approximately 0.0% of the company’s stock are sold short. Based on an average daily trading volume, of 13,041 shares, the days-to-cover ratio is currently 0.0 days.

Analyst Upgrades and Downgrades

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

Insider Activity

In other news, Director Zhiwang Hong bought 218,750 shares of the company’s stock in a transaction that occurred on Tuesday, August 18th. The shares were acquired at an average price 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 represents a 3,405.20% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.72% of the company’s stock.

Hedge Funds Weigh In On Addentax Group

Several hedge funds and other institutional investors have recently made changes to their positions in ATXG. DRW Securities LLC bought a new stake in Addentax Group during the fourth quarter worth $129,000. Virtu Financial LLC acquired a new stake in Addentax Group in the third quarter valued at $31,000. Jane Street Group LLC bought a new position in shares of Addentax Group in the 2nd quarter valued at about $29,000. Finally, Two Sigma Investments LP bought a new position in shares of Addentax Group in the 3rd quarter valued at about $29,000. 10.09% of the stock is owned by institutional investors.

Addentax Group Stock Performance

ATXG traded down $0.20 on Thursday, hitting $3.34. 4,276 shares of the company were exchanged, compared to its average volume of 8,477. Addentax Group has a 12 month low of $2.91 and a 12 month high of $19.50. The company has a market cap of $3.94 million, a PE ratio of -0.85 and a beta of 0.50. The stock’s fifty day moving average is $3.72 and its 200-day moving average is $4.45.

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 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%.

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.