Shineco Inc (NASDAQ:TYHT) was the recipient of a large increase in short interest during the month of June. As of June 30th, there was short interest totalling 49,900 shares, an increase of 23.8% from the June 15th total of 40,300 shares. Based on an average daily trading volume, of 164,900 shares, the days-to-cover ratio is presently 0.3 days. Currently, 0.2% of the company’s shares are sold short.
Separately, ValuEngine upgraded Shineco from a “hold” rating to a “buy” rating in a research report on Friday, May 1st.
Shares of NASDAQ TYHT traded down $0.02 during mid-day trading on Tuesday, hitting $0.50. 8,000 shares of the stock traded hands, compared to its average volume of 296,350. Shineco has a 52 week low of $0.35 and a 52 week high of $1.07. The company has a market cap of $14.44 million, a price-to-earnings ratio of -2.65 and a beta of 1.27. The stock has a fifty day moving average price of $0.51 and a 200-day moving average price of $0.53.
Shineco (NASDAQ:TYHT) last released its quarterly earnings results on Thursday, May 14th. The company reported ($0.14) earnings per share for the quarter. Shineco had a negative net margin of 19.00% and a negative return on equity of 7.04%. The firm had revenue of $3.73 million for the quarter.
A hedge fund recently raised its stake in Shineco stock. Renaissance Technologies LLC lifted its holdings in Shineco Inc (NASDAQ:TYHT) by 6.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 775,293 shares of the company’s stock after purchasing an additional 44,169 shares during the quarter. Renaissance Technologies LLC owned 2.84% of Shineco worth $486,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors own 3.21% of the company’s stock.
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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