Short Interest in Addentax Group Corp. (NASDAQ:ATXG) Drops By 36.0%

Addentax Group Corp. (NASDAQ:ATXG) saw a significant decrease in short interest during the month of May. As of May 29th, there was short interest totaling 33,302 shares, a decrease of 36.0% from the May 14th total of 52,024 shares. Approximately 4.4% of the shares of the stock are sold short. Based on an average daily volume of 11,656 shares, the short-interest ratio is currently 2.9 days.

Analysts Set New Price Targets

Separately, Weiss Ratings cut Addentax Group from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, May 27th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

Hedge Funds Weigh In On Addentax Group

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

Addentax Group Stock Down 3.0%

Shares of ATXG opened at $4.84 on Wednesday. Addentax Group has a 12-month low of $3.32 and a 12-month high of $19.50. The stock’s fifty day simple moving average is $5.09 and its 200-day simple moving average is $5.47. The firm has a market capitalization of $3.78 million, a PE ratio of -0.38 and a beta of 0.48.

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.