Addentax Group Corp. (NASDAQ:ATXG) Stock Short Interest Climbs 330.4%

Addentax Group Corp. (NASDAQ:ATXG) was the target of a large increase in short interest in October. As of October 15th, there was short interest totaling 2,785 shares, an increase of 330.4% from the September 30th total of 647 shares. Currently, 0.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 4,301 shares, the short-interest ratio is currently 0.6 days.

Insider Buying and Selling

In other news, Director Zhiwang Hong acquired 218,750 shares of the firm’s stock in a transaction on Tuesday, August 18th. The shares were purchased at an average cost of $4.80 per share, for a total transaction of $1,050,000.00. Following the transaction, the director owned 225,174 shares of the company’s stock, valued at approximately $1,080,835.20. This represents a 3,405.20% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.72% of the stock is currently owned by corporate insiders.

Addentax Group Trading Down 12.2%

NASDAQ:ATXG opened at $2.69 on Wednesday. The stock has a 50 day simple moving average of $3.39 and a 200 day simple moving average of $4.44. The stock has a market cap of $3.17 million, a P/E ratio of -0.75 and a beta of 0.46. Addentax Group has a 1-year low of $2.50 and a 1-year high of $10.34.

Addentax Group (NASDAQ:ATXG) last released its earnings results on Friday, August 14th. The company reported $2.93 EPS for the quarter. The firm had revenue of $3.44 million during the quarter.

Wall Street Analysts Forecast Growth

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

Addentax Group Company Profile

Addentax Group Corporation is a holding company whose operating subsidiaries provide garment manufacturing, logistics and property-management services. The company has also been associated with apparel-related supply-chain activities, including the production and distribution of clothing and related products.

Addentax Group’s operations have primarily been based in China, with activities focused on serving domestic businesses and consumers. Its logistics business supports the movement and delivery of goods, while its property-management activities involve services related to the operation and upkeep of managed properties.

The company is incorporated in the Cayman Islands and conducts its business through subsidiaries.