Addentax Group Corp. (NASDAQ:ATXG) Short Interest Down 36.0% in May

Addentax Group Corp. (NASDAQ:ATXG) saw a large drop in short interest in the month of May. As of May 29th, there was short interest totaling 33,302 shares, a drop of 36.0% from the May 14th total of 52,024 shares. Based on an average trading volume of 11,656 shares, the short-interest ratio is currently 2.9 days. Approximately 4.4% of the shares of the stock are sold short.

Analysts Set New Price Targets

Separately, Weiss Ratings downgraded shares of Addentax Group from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, May 27th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, Addentax Group has an average rating of “Sell”.

Addentax Group Stock Performance

ATXG stock traded down $0.18 on Tuesday, reaching $4.81. The company had a trading volume of 1,551 shares, compared to its average volume of 97,186. Addentax Group has a 1 year low of $3.32 and a 1 year high of $19.50. The company’s fifty day moving average is $5.09 and its 200 day moving average is $5.48. The company has a market cap of $3.75 million, a P/E ratio of -0.38 and a beta of 0.48.

Institutional Investors Weigh In On Addentax Group

A number of institutional investors and hedge funds have recently bought and sold shares of ATXG. Jane Street Group LLC purchased a new stake in Addentax Group in the 2nd quarter valued at approximately $29,000. Two Sigma Investments LP purchased a new stake in Addentax Group in the 3rd quarter valued at approximately $29,000. Virtu Financial LLC purchased a new stake in Addentax Group in the 3rd quarter valued at approximately $31,000. Finally, DRW Securities LLC purchased a new stake in Addentax Group in the 4th quarter valued at approximately $129,000. Hedge funds and other institutional investors own 10.09% of the company’s stock.

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.