Short Interest in Shineco Inc (NASDAQ:TYHT) Decreases By 18.3%

Shineco Inc (NASDAQ:TYHT) was the target of a significant decrease in short interest in September. As of September 30th, there was short interest totalling 123,700 shares, a decrease of 18.3% from the August 30th total of 151,500 shares. Based on an average daily trading volume, of 117,700 shares, the days-to-cover ratio is presently 1.1 days. Approximately 0.8% of the shares of the stock are short sold.

An institutional investor recently raised its position in Shineco stock. Renaissance Technologies LLC raised its holdings in shares of Shineco Inc (NASDAQ:TYHT) by 90.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 796,043 shares of the company’s stock after buying an additional 378,089 shares during the quarter. Renaissance Technologies LLC owned about 3.48% of Shineco worth $538,000 as of its most recent SEC filing. Institutional investors own 4.59% of the company’s stock.

Shares of Shineco stock traded down $0.01 during trading hours on Monday, reaching $0.52. 300 shares of the company’s stock were exchanged, compared to its average volume of 36,560. Shineco has a 1 year low of $0.43 and a 1 year high of $1.66. The company has a market capitalization of $12.12 million, a P/E ratio of 17.67 and a beta of 1.80. The business has a fifty day moving average of $0.58 and a two-hundred day moving average of $0.80.

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.

Further Reading: Calculating net profit and net profit margin ratio

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