Addentax Group (NASDAQ:ATXG) Shares to Reverse Split on Monday, March 30th

Shares of Addentax Group Corp. (NASDAQ:ATXG) are going to reverse split on Monday, March 30th. The 1-15 reverse split was announced on Thursday, March 26th. The number of shares owned by shareholders will be adjusted after the closing bell on Friday, March 27th.

Addentax Group Stock Down 16.6%

Shares of Addentax Group stock traded down $0.06 during trading hours on Thursday, reaching $0.31. 480,330 shares of the company’s stock were exchanged, compared to its average volume of 1,754,359. The business has a fifty day moving average of $0.34 and a two-hundred day moving average of $0.52. The company has a market capitalization of $3.62 million, a P/E ratio of -0.36 and a beta of 0.90. Addentax Group has a 1 year low of $0.22 and a 1 year high of $1.86.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Addentax Group in a report on Wednesday, January 21st. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Institutional Trading of Addentax Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Jane Street Group LLC acquired a new position in Addentax Group in the second quarter valued at approximately $29,000. Two Sigma Investments LP acquired a new position in shares of Addentax Group in the 3rd quarter valued at $29,000. Virtu Financial LLC purchased a new position in shares of Addentax Group during the 3rd quarter worth $31,000. Finally, DRW Securities LLC acquired a new stake in shares of Addentax Group during the 4th quarter worth about $129,000. 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.