Addentax Group (NASDAQ:ATXG) Director Zhiwang Hong Buys 218,750 Shares of Stock

Addentax Group Corp. (NASDAQ:ATXG) Director Zhiwang Hong bought 218,750 shares of the company’s stock in a transaction dated Tuesday, August 18th. The shares were acquired at an average price of $4.80 per share, for a total transaction of $1,050,000.00. Following the completion of the transaction, the director directly owned 225,174 shares in the company, valued at approximately $1,080,835.20. This trade represents a 3,405.20% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link.

Addentax Group Trading Down 6.6%

NASDAQ ATXG opened at $3.74 on Thursday. The stock has a market capitalization of $4.42 million, a price-to-earnings ratio of -0.96 and a beta of 0.49. Addentax Group Corp. has a twelve month low of $2.91 and a twelve month high of $19.50. The stock has a 50-day moving average of $3.96 and a 200 day moving average of $4.67.

Addentax Group (NASDAQ:ATXG) last issued 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 for the quarter. Addentax Group had a negative return on equity of 9.16% and a negative net margin of 21.05%.

Hedge Funds Weigh In On Addentax Group

Hedge funds and other institutional investors have recently made changes to their positions in the company. DRW Securities LLC purchased a new stake in shares of Addentax Group during the fourth quarter worth approximately $129,000. Virtu Financial LLC purchased a new stake in Addentax Group during the 3rd quarter valued at about $31,000. Jane Street Group LLC purchased a new position in Addentax Group during the second quarter worth about $29,000. Finally, Two Sigma Investments LP purchased a new stake in shares of Addentax Group in the 3rd quarter valued at approximately $29,000. Hedge funds and other institutional investors own 10.09% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.