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

Addentax Group Corp. (NASDAQ:ATXG) was the recipient of a significant drop in short interest during the month of February. As of February 27th, there was short interest totaling 217,351 shares, a drop of 66.6% from the February 12th total of 649,975 shares. Based on an average daily volume of 85,797 shares, the days-to-cover ratio is currently 2.5 days. Approximately 1.9% of the shares of the stock are sold short. Approximately 1.9% of the shares of the stock are sold short. Based on an average daily volume of 85,797 shares, the days-to-cover ratio is currently 2.5 days.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Addentax Group in a report on Wednesday, January 21st. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Addentax Group currently has an average rating of “Sell”.

Addentax Group Price Performance

ATXG traded down $0.00 during trading hours on Friday, reaching $0.27. The company’s stock had a trading volume of 14,591 shares, compared to its average volume of 859,924. The stock has a market cap of $3.15 million, a PE ratio of -0.32 and a beta of 0.90. Addentax Group has a fifty-two week low of $0.26 and a fifty-two week high of $1.86. The business’s 50-day moving average is $0.36 and its 200-day moving average is $0.53.

Hedge Funds Weigh In On Addentax Group

Hedge funds have recently modified their holdings of the business. Two Sigma Investments LP purchased a new stake in Addentax Group in the 3rd quarter valued at about $29,000. Virtu Financial LLC purchased a new stake in shares of Addentax Group in the 3rd quarter valued at approximately $31,000. Jane Street Group LLC acquired a new position in shares of Addentax Group in the 2nd quarter worth approximately $29,000. Finally, DRW Securities LLC purchased a new position in shares of Addentax Group during the 4th quarter worth approximately $129,000. 10.09% of the stock is currently owned by hedge funds and other institutional investors.

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.