Zhiwang Hong Purchases 218,750 Shares of Addentax Group (NASDAQ:ATXG) Stock

Addentax Group Corp. (NASDAQ:ATXG) Director Zhiwang Hong acquired 218,750 shares of the firm’s stock in a transaction on Tuesday, August 18th. The shares were bought at an average cost 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 represents a 3,405.20% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Addentax Group Stock Performance

Shares of ATXG stock traded up $0.24 on Wednesday, reaching $4.25. 36,912 shares of the company were exchanged, compared to its average volume of 76,697. The company has a market cap of $4.39 million, a price-to-earnings ratio of -1.09 and a beta of 0.49. Addentax Group Corp. has a 1 year low of $2.91 and a 1 year high of $19.50. The business has a 50-day moving average price of $3.97 and a 200 day moving average price of $4.68.

Addentax Group (NASDAQ:ATXG) last posted its quarterly earnings results on Friday, August 14th. The company reported $2.93 earnings per share for the quarter. The firm had revenue of $3.44 million for the quarter. Addentax Group had a negative net margin of 21.48% and a negative return on equity of 8.25%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ATXG. Jane Street Group LLC purchased a new stake in Addentax Group in the second quarter valued at $29,000. Two Sigma Investments LP acquired a new position in shares of Addentax Group during the third quarter worth about $29,000. Virtu Financial LLC purchased a new stake in shares of Addentax Group in the third quarter valued at approximately $31,000. Finally, DRW Securities LLC acquired a new position in shares of Addentax Group during the 4th quarter worth $129,000. Institutional investors and hedge funds own 10.09% of the company’s stock.

Analyst Upgrades and Downgrades

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