Short Interest in Addentax Group Corp. (NASDAQ:ATXG) Declines By 35.9%

Addentax Group Corp. (NASDAQ:ATXG) saw a significant drop in short interest during the month of August. As of August 14th, there was short interest totaling 4,716 shares, a drop of 35.9% from the July 30th total of 7,355 shares. Based on an average trading volume of 15,768 shares, the days-to-cover ratio is presently 0.3 days. Currently, 0.4% of the company’s shares are short sold.

Addentax Group Stock Down 3.7%

ATXG traded down $0.13 during trading on Tuesday, hitting $3.42. The company’s stock had a trading volume of 1,448 shares, compared to its average volume of 73,547. Addentax Group has a twelve month low of $2.91 and a twelve month high of $19.50. The stock’s fifty day moving average price is $3.78 and its 200-day moving average price is $4.57. The firm has a market capitalization of $4.04 million, a P/E ratio of -0.87 and a beta of 0.49.

Addentax Group (NASDAQ:ATXG) last announced its quarterly earnings data on Friday, August 14th. The company reported $2.93 EPS for the quarter. The company had revenue of $3.44 million during the quarter. Addentax Group had a negative net margin of 21.05% and a negative return on equity of 9.16%.

Insider Activity at Addentax Group

In related news, Director Zhiwang Hong acquired 218,750 shares of the business’s stock in a transaction that occurred on 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 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 purchase was disclosed in a document filed with the SEC, which is available at this link. 2.72% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Addentax Group

Large investors have recently bought and sold shares of the stock. DRW Securities LLC bought a new stake in Addentax Group in the fourth quarter valued at $129,000. Virtu Financial LLC bought a new position in shares of Addentax Group during the 3rd quarter worth about $31,000. Two Sigma Investments LP bought a new position in shares of Addentax Group during the 3rd quarter worth about $29,000. Finally, Jane Street Group LLC bought a new position in shares of Addentax Group during the 2nd quarter worth about $29,000. 10.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

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.