Addentax Group Corp. (NASDAQ:ATXG) Short Interest Down 36.0% in May

Addentax Group Corp. (NASDAQ:ATXG) was the recipient of a significant drop in short interest in the month of May. As of May 29th, there was short interest totaling 33,302 shares, a drop of 36.0% from the May 14th total of 52,024 shares. Currently, 4.4% of the shares of the company are sold short. Based on an average daily volume of 11,656 shares, the short-interest ratio is presently 2.9 days.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded shares of Addentax Group from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, May 27th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has a consensus rating of “Sell”.

Addentax Group Stock Performance

NASDAQ:ATXG traded down $0.18 during mid-day trading on Tuesday, reaching $4.81. The stock had a trading volume of 1,551 shares, compared to its average volume of 97,186. The firm has a market capitalization of $3.75 million, a price-to-earnings ratio of -0.38 and a beta of 0.48. Addentax Group has a twelve month low of $3.32 and a twelve month high of $19.50. The business has a 50 day simple moving average of $5.09 and a 200 day simple moving average of $5.48.

Institutional Investors Weigh In On Addentax Group

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

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.