Addentax Group Corp. (NASDAQ:ATXG) Shares Shorted: Short Interest Down 84.4% in September

Addentax Group Corp. (NASDAQ:ATXG) was the recipient of a large drop in short interest during the month of September. As of September 15th, there was short interest totaling 60 shares, a drop of 84.4% from the August 31st total of 384 shares. Approximately 0.0% of the shares of the company are sold short. Based on an average trading volume of 3,077 shares, the days-to-cover ratio is presently 0.0 days.

Analysts Set New Price Targets

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

Addentax Group Trading Down 4.1%

NASDAQ ATXG traded down $0.15 during trading hours on Friday, hitting $3.50. 34,326 shares of the company’s stock traded hands, compared to its average volume of 2,788. The business’s fifty day moving average price is $3.69 and its two-hundred day moving average price is $4.36. The firm has a market capitalization of $4.13 million, a P/E ratio of -0.89 and a beta of 0.50. Addentax Group has a 52 week low of $2.91 and a 52 week high of $17.55.

Addentax Group (NASDAQ:ATXG) last released its quarterly earnings results on Friday, August 14th. The company reported $2.93 earnings per share for the quarter. The business had revenue of $3.44 million for the quarter. Addentax Group had a negative net margin of 21.05% and a negative return on equity of 9.16%.

Insider Activity at Addentax Group

In related news, Director Zhiwang Hong acquired 218,750 shares of the firm’s stock in a transaction dated Tuesday, August 18th. The stock was purchased at an average cost of $4.80 per share, with a total value of $1,050,000.00. Following the completion of the acquisition, the director directly 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 ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.72% of the stock is owned by corporate insiders.

Addentax Group Company Profile

Addentax Group Corporation (NASDAQ: ATXG) is a holding company that operates businesses in garment manufacturing, logistics and property management. Through its subsidiaries, the company provides apparel production services and supports related commercial activities in China.

The company’s garment manufacturing operations are associated with China’s apparel industry, while its logistics business provides transportation and delivery-related services. Addentax Group also engages in property management, serving commercial and other properties connected with its operating activities.

Addentax Group is incorporated in the Cayman Islands and conducts its principal operating activities through subsidiaries in China, including in Guangdong Province.