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 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. Approximately 1.2% of the company’s stock are sold short. Based on an average daily trading volume, of 134,700 shares, the short-interest ratio is currently 1.4 days.

Shares of NASDAQ TYHT remained flat at $$0.60 during mid-day trading on Wednesday. 26,400 shares of the company were exchanged, compared to its average volume of 477,065. The stock has a 50-day simple moving average of $0.65 and a 200 day simple moving average of $0.82. Shineco has a 1 year low of $0.43 and a 1 year high of $1.66.

An institutional investor recently raised its position in Shineco stock. Renaissance Technologies LLC raised its stake in Shineco Inc (NASDAQ:TYHT) by 90.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 796,043 shares of the company’s stock after acquiring an additional 378,089 shares during the period. Renaissance Technologies LLC owned 3.48% of Shineco worth $538,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 4.60% of the stock is currently owned by hedge funds and other institutional investors.

About Shineco

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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