Addentax Group Corp. (NASDAQ:ATXG) Sees Significant Growth in Short Interest

Addentax Group Corp. (NASDAQ:ATXG) saw a large growth in short interest in the month of January. As of January 15th, there was short interest totaling 20,549 shares, a growth of 3,684.3% from the December 31st total of 543 shares. Based on an average trading volume of 64,743 shares, the days-to-cover ratio is currently 0.3 days. Currently, 0.2% of the shares of the company are short sold. Currently, 0.2% of the shares of the company are short sold. Based on an average trading volume of 64,743 shares, the days-to-cover ratio is currently 0.3 days.

Addentax Group Stock Performance

NASDAQ:ATXG traded down $0.03 during trading hours on Tuesday, hitting $0.34. The company’s stock had a trading volume of 40,183 shares, compared to its average volume of 57,575. Addentax Group has a 52-week low of $0.33 and a 52-week high of $1.86. The business’s 50-day moving average is $0.43 and its two-hundred day moving average is $0.58. The company has a market capitalization of $3.98 million, a PE ratio of -0.58 and a beta of 0.95.

Addentax Group (NASDAQ:ATXG) last posted its quarterly earnings results on Friday, November 14th. The company reported ($0.11) earnings per share for the quarter. The company had revenue of $0.82 million for the quarter. Addentax Group had a negative return on equity of 18.12% and a negative net margin of 96.23%.

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 in the 2nd quarter worth approximately $29,000. Two Sigma Investments LP acquired a new position in Addentax Group during the third quarter worth $29,000. Finally, Virtu Financial LLC purchased a new stake in Addentax Group during the third quarter worth $31,000. 10.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ATXG. Wall Street Zen upgraded Addentax Group to a “hold” rating in a research note on Saturday, November 1st. Weiss Ratings reissued a “sell (e+)” rating on shares of Addentax Group in a research note on Wednesday, January 21st. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has an average rating of “Sell”.

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.