Addentax Group (NASDAQ:ATXG) Shares Set to Reverse Split on Monday, March 30th

Shares of Addentax Group Corp. (NASDAQ:ATXG) are going to reverse split before the market opens on Monday, March 30th. The 1-15 reverse split was announced on Thursday, March 26th. The number of shares owned by shareholders will be adjusted after the closing bell on Friday, March 27th.

Addentax Group Stock Performance

ATXG stock traded down $0.06 during mid-day trading on Thursday, hitting $0.31. 480,330 shares of the company were exchanged, compared to its average volume of 1,754,359. Addentax Group has a 1-year low of $0.22 and a 1-year high of $1.86. The firm’s 50 day simple moving average is $0.34 and its 200 day simple moving average is $0.52. The firm has a market cap of $3.62 million, a P/E ratio of -0.36 and a beta of 0.90.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Addentax Group in a research report on Wednesday, January 21st. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Institutional Trading of Addentax Group

Institutional investors have recently made changes to their positions in the business. Jane Street Group LLC bought a new stake in shares of Addentax Group in the second quarter worth $29,000. Two Sigma Investments LP bought a new position in Addentax Group in the third quarter valued at $29,000. Virtu Financial LLC acquired a new stake in Addentax Group in the 3rd quarter valued at $31,000. Finally, DRW Securities LLC acquired a new stake in Addentax Group in the 4th quarter valued at $129,000. Institutional investors own 10.09% of the company’s stock.

About Addentax Group

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.