Shineco (NASDAQ:SISI) Trading Up 5.6% – Still a Buy?

Shineco, Inc. (NASDAQ:SISI) shares shot up 5.6% during mid-day trading on Thursday . The company traded as high as $1.50 and last traded at $1.50. 59,042 shares changed hands during trading, a decline of 62% from the average session volume of 157,189 shares. The stock had previously closed at $1.42.

Shineco Stock Performance

The company has a debt-to-equity ratio of 0.04, a current ratio of 0.81 and a quick ratio of 0.75. The company has a 50-day simple moving average of $2.11 and a 200 day simple moving average of $5.73.

Hedge Funds Weigh In On Shineco

An institutional investor recently bought a new position in Shineco stock. Powell Investment Advisors LLC acquired a new stake in Shineco, Inc. (NASDAQ:SISI) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 11,500 shares of the company’s stock, valued at approximately $52,000. Powell Investment Advisors LLC owned approximately 0.66% of Shineco at the end of the most recent reporting period. 4.08% of the stock is owned by institutional investors.

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.