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

Addentax Group Corp. (NASDAQ:ATXG) was the recipient of a large drop in short interest in the month of 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. Based on an average trading volume of 13,041 shares, the short-interest ratio is presently 0.0 days. Approximately 0.0% of the company’s shares are sold short.

Insider Buying and Selling at Addentax Group

In other Addentax Group news, Director Zhiwang Hong acquired 218,750 shares of the company’s stock in a transaction dated Tuesday, August 18th. The shares were bought at an average cost of $4.80 per share, with a total value of $1,050,000.00. Following the purchase, the director directly owned 225,174 shares of the company’s stock, valued at $1,080,835.20. This trade 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 is available at this hyperlink. Company insiders own 2.72% of the company’s stock.

Institutional Trading of Addentax Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. DRW Securities LLC bought a new position in Addentax Group in the 4th quarter valued at about $129,000. Jane Street Group LLC purchased a new stake in shares of Addentax Group in the second quarter worth approximately $29,000. Virtu Financial LLC bought a new position in shares of Addentax Group in the third quarter valued at approximately $31,000. Finally, Two Sigma Investments LP purchased a new position in shares of Addentax Group during the third quarter valued at approximately $29,000. Institutional investors own 10.09% of the company’s stock.

Addentax Group Stock Performance

Shares of NASDAQ ATXG traded up $0.23 during trading on Friday, hitting $3.67. 4,881 shares of the company traded hands, compared to its average volume of 70,640. The firm has a market capitalization of $4.33 million, a price-to-earnings ratio of -0.94 and a beta of 0.50. The business’s fifty day moving average is $3.72 and its 200 day moving average is $4.45. Addentax Group has a fifty-two week low of $2.91 and a fifty-two week high of $19.50.

Addentax Group (NASDAQ:ATXG) last issued its earnings results on Friday, August 14th. The company reported $2.93 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 cut Addentax Group from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, August 3rd. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Addentax Group has a consensus 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.