Addentax Group Corp. (NASDAQ:ATXG) Sees Significant Drop in Short Interest

Addentax Group Corp. (NASDAQ:ATXG) was the target of a large decrease in short interest in June. As of June 30th, there was short interest totaling 13,543 shares, a decrease of 50.8% from the June 15th total of 27,514 shares. Approximately 1.4% of the shares of the company are sold short. Based on an average daily trading volume, of 6,680 shares, the short-interest ratio is currently 2.0 days.

Hedge Funds Weigh In On Addentax Group

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

Addentax Group Stock Down 1.9%

NASDAQ ATXG opened at $3.81 on Wednesday. The stock has a market capitalization of $3.93 million, a PE ratio of -0.30 and a beta of 0.56. Addentax Group has a 12-month low of $2.91 and a 12-month high of $19.50. The company has a 50 day moving average price of $4.38 and a two-hundred day moving average price of $5.04.

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

Wall Street Analyst Weigh In

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