Shineco (NASDAQ:TYHT) Sees Large Volume Increase

Shares of Shineco Inc (NASDAQ:TYHT) saw strong trading volume on Wednesday . 1,247,200 shares traded hands during mid-day trading, an increase of 235% from the previous session’s volume of 372,347 shares.The stock last traded at $0.84 and had previously closed at $0.72.

The firm has a 50 day simple moving average of $0.54 and a 200-day simple moving average of $0.62.

Shineco (NASDAQ:TYHT) last released its quarterly earnings data on Friday, September 27th. The company reported $0.02 earnings per share (EPS) for the quarter. The firm had revenue of $7.55 million for the quarter. Shineco had a negative return on equity of 2.25% and a negative net margin of 5.31%.

A hedge fund recently raised its stake in Shineco stock. Renaissance Technologies LLC lifted its position 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 firm owned 796,043 shares of the company’s stock after purchasing 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. 2.95% of the stock is owned by institutional investors and hedge funds.

About Shineco (NASDAQ:TYHT)

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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