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 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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