Key Points
- Director Zhiwang Hong purchased 218,750 Addentax Group shares at an average price of $4.80, investing approximately $1.05 million and increasing his holdings by 3,405.2%.
- Addentax shares opened at $3.74, down 6.6%, with a market capitalization of roughly $4.42 million. The company reported quarterly revenue of $3.44 million and EPS of $2.93, but still posted a negative net margin of 21.05%.
- Investor sentiment remains weak: institutional ownership is 10.09%, Weiss Ratings downgraded the stock to “sell (e+),” and the sole analyst rating gives Addentax a consensus “Sell.”
Addentax Group Corp. (NASDAQ:ATXG - Get Free Report) Director Zhiwang Hong bought 218,750 shares of the stock in a transaction that occurred on Tuesday, August 18th. The shares were purchased at an average price of $4.80 per share, with a total value of $1,050,000.00. Following the purchase, the director 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 is available at the SEC website.
Addentax Group Stock Down 6.6%
Shares of Addentax Group stock opened at $3.74 on Thursday. The firm's 50 day moving average is $3.96 and its two-hundred day moving average is $4.67. The firm has a market capitalization of $4.42 million, a P/E ratio of -0.96 and a beta of 0.49. Addentax Group Corp. has a 52 week low of $2.91 and a 52 week high of $19.50.
Addentax Group (NASDAQ:ATXG - Get Free Report) last posted its quarterly earnings data on Friday, August 14th. The company reported $2.93 EPS for the quarter. The firm had revenue of $3.44 million during the quarter. Addentax Group had a negative return on equity of 9.16% and a negative net margin of 21.05%.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in ATXG. Jane Street Group LLC acquired a new stake in shares of Addentax Group during the 2nd quarter valued at approximately $29,000. Two Sigma Investments LP bought a new position in Addentax Group in the third quarter worth about $29,000. Virtu Financial LLC acquired a new position in Addentax Group in the third quarter valued at approximately $31,000. Finally, DRW Securities LLC bought a new stake in shares of Addentax Group in the 4th quarter worth approximately $129,000. 10.09% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Separately, Weiss Ratings cut 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, Addentax Group presently has a consensus rating of "Sell".
Read Our Latest Research Report on ATXG
About Addentax Group
(
Get Free Report)
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.
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