Short Interest in Shineco Inc (NASDAQ:TYHT) Declines By 32.6%
Shineco Inc (NASDAQ:TYHT) was the target of a large decrease in short interest in the month of August. As of August 31st, there was short interest totalling 188,700 shares, a decrease of 32.6% from the July 31st total of 280,000 shares. Currently, 1.2% of the shares of the stock are sold short. Based on an average daily volume of 134,700 shares, the days-to-cover ratio is currently 1.4 days.
Shares of TYHT remained flat at $$0.60 during trading hours on Wednesday. 26,400 shares of the stock were exchanged, compared to its average volume of 477,065. Shineco has a 1-year low of $0.43 and a 1-year high of $1.66. The firm has a 50-day moving average of $0.65 and a 200 day moving average of $0.82.
A hedge fund recently raised its stake in Shineco stock. Renaissance Technologies LLC increased its stake in shares of Shineco Inc (NASDAQ:TYHT) by 90.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 796,043 shares of the company’s stock after buying an additional 378,089 shares during the period. Renaissance Technologies LLC owned about 3.48% of Shineco worth $538,000 as of its most recent filing with the Securities and Exchange Commission. 4.60% of the stock is owned by institutional investors and hedge funds.
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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