Addentax Group (NASDAQ:ATXG) Shares Up 4.8% – Still a Buy?

Shares of Addentax Group Corp. (NASDAQ:ATXG) were up 4.8% during trading on Wednesday . The company traded as high as $3.49 and last traded at $3.26. Approximately 8,015 shares changed hands during mid-day trading, a decline of 71% from the average session volume of 27,809 shares. The stock had previously closed at $3.11.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded shares of Addentax Group from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has an average rating of “Sell”.

Addentax Group Price Performance

The firm has a 50-day moving average of $4.04 and a 200 day moving average of $4.75. The stock has a market capitalization of $3.36 million, a price-to-earnings ratio of -0.26 and a beta of 0.49.

Institutional Investors Weigh In On Addentax Group

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

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.