Addentax Group Corp. (NASDAQ:ATXG) Sees Large Drop in Short Interest

Addentax Group Corp. (NASDAQ:ATXG) was the recipient of a significant decline in short interest in February. As of February 27th, there was short interest totaling 217,351 shares, a decline of 66.6% from the February 12th total of 649,975 shares. Based on an average daily volume of 85,797 shares, the days-to-cover ratio is presently 2.5 days. Currently, 1.9% of the company’s stock are sold short. Currently, 1.9% of the company’s stock are sold short. Based on an average daily volume of 85,797 shares, the days-to-cover ratio is presently 2.5 days.

Addentax Group Stock Up 0.7%

Shares of ATXG opened at $0.27 on Wednesday. The firm has a market cap of $3.18 million, a price-to-earnings ratio of -0.32 and a beta of 0.90. The company’s fifty day moving average is $0.36 and its 200-day moving average is $0.54. Addentax Group has a 12 month low of $0.26 and a 12 month high of $1.86.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Addentax Group

Several institutional investors have recently bought and sold shares of the stock. DRW Securities LLC acquired a new stake in shares of Addentax Group in the fourth quarter worth about $129,000. Virtu Financial LLC bought a new stake in shares of Addentax Group during the 3rd quarter worth about $31,000. Two Sigma Investments LP acquired a new position in shares of Addentax Group during the 3rd quarter valued at about $29,000. Finally, Jane Street Group LLC acquired a new position in shares of Addentax Group during the 2nd quarter valued at about $29,000. 10.09% of the stock is currently owned by institutional investors.

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.