Shineco (NASDAQ:SISI) Trading 51.6% Higher – Still a Buy?

Shineco (NASDAQ:SISI)’s share price shot up 51.6% during trading on Friday . The stock traded as high as $0.3625 and last traded at $0.3625. 362 shares traded hands during trading, a decline of 100% from the average session volume of 192,647 shares. The stock had previously closed at $0.2391.

Analyst Upgrades and Downgrades

SISI has been the subject of a number of recent analyst reports. Wall Street Zen cut Shineco from a “hold” rating to a “sell” rating in a report on Friday, September 5th. Weiss Ratings reissued a “sell (e+)” rating on shares of Shineco in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company has an average rating of “Sell”.

Shineco Stock Up 51.6%

The company has a market cap of $150,437.50, a P/E ratio of 0.00 and a beta of -0.91. The stock has a 50 day moving average price of $1.83 and a two-hundred day moving average price of $9.49.

Hedge Funds Weigh In On Shineco

A hedge fund recently bought a new stake in Shineco stock. XTX Topco Ltd purchased a new stake in Shineco (NASDAQ:SISI) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 36,691 shares of the company’s stock, valued at approximately $33,000. XTX Topco Ltd owned 2.12% of Shineco as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 4.08% of the company’s stock.

About Shineco

Shineco, Inc, through its subsidiaries, processes and distributes agricultural produce. It also engages in the growing and cultivation of mulberry trees and silkworm cocoons; distribution of fruit business; and processing and distribution of silk and silk fabrics, as well as other by-products. The company was incorporated in 1997 and is headquartered in Beijing, the People's Republic of China.