Addentax Group Corp. (NASDAQ:ATXG) Stock Short Interest Rises 978.3%

Addentax Group Corp. (NASDAQ:ATXG) was the recipient of a large increase in short interest in September. As of September 30th, there was short interest totaling 647 shares, an increase of 978.3% from the September 15th total of 60 shares. Approximately 0.1% of the shares of the company are short sold. Based on an average trading volume of 8,706 shares, the short-interest ratio is currently 0.1 days.

Addentax Group Price Performance

Shares of ATXG stock traded down $0.13 during trading hours on Friday, reaching $3.04. 1,127 shares of the company were exchanged, compared to its average volume of 7,228. The stock’s fifty day moving average is $3.62 and its two-hundred day moving average is $4.29. Addentax Group has a fifty-two week low of $2.91 and a fifty-two week high of $16.20. The company has a market cap of $3.59 million, a price-to-earnings ratio of -0.78 and a beta of 0.46.

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. Addentax Group had a negative net margin of 21.05% and a negative return on equity of 9.16%. The business had revenue of $3.44 million during the quarter.

Insider Activity at Addentax Group

In other news, Director Zhiwang Hong acquired 218,750 shares of the stock in a transaction dated Tuesday, August 18th. The shares were acquired at an average cost of $4.80 per share, for a total transaction of $1,050,000.00. Following the completion of the transaction, the director owned 225,174 shares in the company, valued at approximately $1,080,835.20. This trade represents a 3,405.20% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 2.72% of the company’s stock.

Wall Street Analyst Weigh In

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

About Addentax Group

Addentax Group Corp. is a holding company focused primarily on garment manufacturing, logistics, and property management activities in China. Through its operating subsidiaries, the company manufactures apparel and provides related supply-chain and distribution services.

The company’s logistics operations have included delivery and transportation services, while its property-management activities support the administration and operation of real estate assets. Addentax Group has also pursued business opportunities connected with apparel production and related commercial services.

Addentax Group is incorporated in Nevada and conducts its operating activities principally in China.