Shineco Inc (NASDAQ:TYHT) Short Interest Down 72.2% in March

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Shineco Inc (NASDAQ:TYHT) saw a significant decrease in short interest in the month of March. As of March 13th, there was short interest totalling 20,300 shares, a decrease of 72.2% from the February 27th total of 72,900 shares. Based on an average daily trading volume, of 192,100 shares, the days-to-cover ratio is currently 0.1 days. Approximately 0.1% of the shares of the company are short sold.

Separately, ValuEngine upgraded shares of Shineco from a “sell” rating to a “hold” rating in a report on Tuesday, December 24th.

An institutional investor recently bought a new position in Shineco stock. Acadian Asset Management LLC acquired a new stake in Shineco Inc (NASDAQ:TYHT) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 62,234 shares of the company’s stock, valued at approximately $39,000. Acadian Asset Management LLC owned about 0.23% of Shineco at the end of the most recent quarter. Hedge funds and other institutional investors own 3.43% of the company’s stock.

Shineco stock opened at $0.42 on Friday. Shineco has a twelve month low of $0.35 and a twelve month high of $1.66. The firm has a 50 day moving average price of $0.53 and a 200-day moving average price of $0.60. The company has a market capitalization of $11.10 million, a P/E ratio of -4.16 and a beta of 1.52.

Shineco Company Profile

Shineco, Inc, a holding company, through its subsidiaries, produces, distributes, and sells health and well-being focused plant-based products in China. It processes and distributes traditional Chinese herbal medicine products, as well as other pharmaceutical products directly to individual customers.

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