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

Addentax Group Corp. (NASDAQ:ATXG) was the recipient of a significant increase in short interest in April. As of April 30th, there was short interest totaling 41,189 shares, an increase of 275.2% from the April 15th total of 10,979 shares. Currently, 5.4% of the company’s stock are short sold. Based on an average trading volume of 253,904 shares, the days-to-cover ratio is presently 0.2 days.

Addentax Group Trading Down 3.1%

NASDAQ:ATXG traded down $0.15 during mid-day trading on Friday, hitting $4.85. The stock had a trading volume of 1,398 shares, compared to its average volume of 115,504. The stock has a 50-day simple moving average of $5.11 and a two-hundred day simple moving average of $5.89. The company has a market capitalization of $3.78 million, a PE ratio of -0.38 and a beta of 0.54. Addentax Group has a twelve month low of $3.32 and a twelve month high of $19.50.

Hedge Funds Weigh In On Addentax Group

Hedge funds have recently added to or reduced their stakes in the stock. Two Sigma Investments LP purchased a new position in Addentax Group in the third quarter valued at approximately $29,000. Virtu Financial LLC purchased a new position in shares of Addentax Group during the third quarter worth approximately $31,000. Jane Street Group LLC purchased a new position in shares of Addentax Group during the second quarter worth approximately $29,000. Finally, DRW Securities LLC purchased a new position in shares of Addentax Group during the fourth quarter worth approximately $129,000. 10.09% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings raised shares of Addentax Group from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock 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.