Addentax Group Corp. (NASDAQ:ATXG) Sees Significant Decrease in Short Interest

Addentax Group Corp. (NASDAQ:ATXG) saw a large decrease in short interest in the month of June. As of June 30th, there was short interest totaling 13,543 shares, a decrease of 50.8% from the June 15th total of 27,514 shares. Based on an average daily volume of 6,680 shares, the days-to-cover ratio is presently 2.0 days. Currently, 1.4% of the company’s shares are sold short.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ATXG. DRW Securities LLC acquired a new stake in shares of Addentax Group in the fourth quarter valued at about $129,000. Virtu Financial LLC acquired a new position in Addentax Group during the 3rd quarter worth approximately $31,000. Jane Street Group LLC acquired a new position in Addentax Group during the 2nd quarter worth approximately $29,000. Finally, Two Sigma Investments LP acquired a new position in Addentax Group during the 3rd quarter worth approximately $29,000. Institutional investors and hedge funds own 10.09% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings downgraded Addentax Group from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, July 1st. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, Addentax Group has an average rating of “Sell”.

Addentax Group Stock Up 1.4%

ATXG opened at $3.96 on Thursday. Addentax Group has a 52-week low of $2.91 and a 52-week high of $19.50. The company has a 50 day moving average of $4.36 and a two-hundred day moving average of $5.02. The company has a market cap of $4.08 million, a P/E ratio of -0.30 and a beta of 0.56.

Addentax Group (NASDAQ:ATXG) last issued its earnings results on Monday, June 29th. The company reported $0.00 EPS for the quarter. Addentax Group had a negative net margin of 83.23% and a negative return on equity of 7.07%.

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.