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

Addentax Group Corp. (NASDAQ:ATXG) was the recipient of a significant growth in short interest in September. As of September 30th, there was short interest totaling 647 shares, a growth of 978.3% from the September 15th total of 60 shares. Approximately 0.1% of the company’s stock are sold short. Based on an average daily volume of 8,706 shares, the days-to-cover ratio is presently 0.1 days.

Analyst Ratings Changes

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

Insider Buying and Selling at Addentax Group

In related news, Director Zhiwang Hong bought 218,750 shares of the company’s stock in a transaction that occurred on Tuesday, August 18th. The shares were purchased at an average cost of $4.80 per share, with a total value of $1,050,000.00. Following the transaction, the director directly 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 position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.72% of the company’s stock.

Addentax Group Stock Performance

Addentax Group stock opened at $3.04 on Friday. 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 capitalization of $3.58 million, a price-to-earnings ratio of -0.78 and a beta of 0.46. The stock has a fifty day moving average of $3.62 and a two-hundred day moving average of $4.29.

Addentax Group (NASDAQ:ATXG) last issued its quarterly earnings results on Friday, August 14th. The company reported $2.93 earnings per share for the quarter. Addentax Group had a negative return on equity of 9.16% and a negative net margin of 21.05%. The company had revenue of $3.44 million during the quarter.

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.