Insider Buying: Addentax Group (NASDAQ:ATXG) Director Purchases $1,050,000.00 in Stock

Addentax Group Corp. (NASDAQ:ATXG) Director Zhiwang Hong acquired 218,750 shares of the stock in a transaction dated 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 in the company, valued at $1,080,835.20. The trade was a 3,405.20% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website.

Addentax Group Price Performance

Shares of Addentax Group stock opened at $3.68 on Friday. Addentax Group Corp. has a 1 year low of $2.91 and a 1 year high of $19.50. The company has a market capitalization of $4.34 million, a price-to-earnings ratio of -0.94 and a beta of 0.49. The business has a fifty day simple moving average of $3.92 and a two-hundred day simple moving average of $4.65.

Addentax Group (NASDAQ:ATXG) last released its quarterly earnings results on Friday, August 14th. The company reported $2.93 earnings per share (EPS) for the quarter. The business 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%.

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On Addentax Group

Several large investors have recently added to or reduced their stakes in ATXG. DRW Securities LLC acquired a new position in shares of Addentax Group during the 4th quarter valued at $129,000. Jane Street Group LLC acquired a new stake in Addentax Group in the second quarter worth $29,000. Virtu Financial LLC acquired a new stake in Addentax Group in the third quarter worth $31,000. Finally, Two Sigma Investments LP bought a new stake in Addentax Group in the 3rd quarter valued at about $29,000. Institutional investors and hedge funds own 10.09% of the company’s stock.

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.