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

Addentax Group Corp. (NASDAQ:ATXG) was the target of a large drop in short interest during 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 daily volume of 13,041 shares, the short-interest ratio is currently 0.0 days. Currently, 0.0% of the shares of the company are short sold.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other Addentax Group news, Director Zhiwang Hong purchased 218,750 shares of Addentax Group stock in a transaction that occurred on Tuesday, August 18th. The stock was acquired at an average price of $4.80 per share, for a total transaction of $1,050,000.00. Following the completion of the acquisition, the director owned 225,174 shares of the company’s stock, valued at approximately $1,080,835.20. This trade represents a 3,405.20% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 2.72% of the company’s stock.

Institutional Inflows and Outflows

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

Addentax Group Stock Down 5.6%

Shares of Addentax Group stock traded down $0.20 on Thursday, hitting $3.34. The stock had a trading volume of 4,276 shares, compared to its average volume of 8,477. Addentax Group has a twelve month low of $2.91 and a twelve month high of $19.50. The business’s 50 day moving average is $3.72 and its two-hundred day moving average is $4.45. The stock has a market cap of $3.94 million, a price-to-earnings ratio of -0.85 and a beta of 0.50.

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

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.