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

Addentax Group Corp. (NASDAQ:ATXG) saw a significant growth in short interest during the month of October. As of October 15th, there was short interest totaling 2,785 shares, a growth of 330.4% from the September 30th total of 647 shares. Based on an average daily volume of 4,301 shares, the short-interest ratio is presently 0.6 days. Currently, 0.2% of the company’s stock 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. Based on data from MarketBeat, the stock 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. 2.72% of the stock is owned by company insiders.

Addentax Group Stock Performance

ATXG traded down $0.18 during midday trading on Thursday, hitting $2.75. The stock had a trading volume of 20,531 shares, compared to its average volume of 61,235. The business has a fifty day moving average of $3.37 and a 200 day moving average of $4.42. Addentax Group has a 1 year low of $2.50 and a 1 year high of $9.56. The company has a market cap of $3.24 million, a P/E ratio of -0.70 and a beta of 0.46.

Addentax Group (NASDAQ:ATXG) last posted its quarterly earnings data on Friday, August 14th. The company reported $2.93 earnings per share for the quarter. The company 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 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.