Shineco (NASDAQ:SISI) Shares Down 6.8% – Here’s Why

Shineco (NASDAQ:SISI) shares dropped 6.8% during mid-day trading on Tuesday . The stock traded as low as $0.2050 and last traded at $0.2050. Approximately 2,226 shares changed hands during mid-day trading, a decline of 99% from the average daily volume of 182,033 shares. The stock had previously closed at $0.22.

Analysts Set New Price Targets

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

Shineco Price Performance

The stock has a market cap of $85,075.00, a PE ratio of 0.00 and a beta of -1.32. The business has a 50 day moving average price of $0.36 and a two-hundred day moving average price of $4.71.

About Shineco

Shineco, Inc (NASDAQ: SISI) is a China-based manufacturer focused on the research, development, production and sale of automotive refinish coatings. The company’s product line includes primers, basecoats, clearcoats and specialty coatings designed for collision repair shops, auto body refinishing centers and industrial finishing applications. Shineco’s formulations aim to meet stringent quality and environmental standards, offering high adhesion, durability and color consistency.

In addition to its core automotive refinish business, Shineco produces protective and specialty coatings for a range of substrates, including metal, wood and plastics.