Tantech Holdings Ltd. (NASDAQ:TANH – Get Free Report) passed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $20.05 and traded as low as $17.42. Tantech shares last traded at $18.79, with a volume of 118,608 shares traded.
Analyst Ratings Changes
Separately, Weiss Ratings downgraded Tantech from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, August 14th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Tantech currently has an average rating of “Sell”.
Read Our Latest Analysis on TANH
Tantech Trading Up 19.3%
Hedge Funds Weigh In On Tantech
A hedge fund recently bought a new position in Tantech stock. Marex Group plc bought a new position in Tantech Holdings Ltd. (NASDAQ:TANH – Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 21,737 shares of the basic materials company’s stock, valued at approximately $43,000. Marex Group plc owned approximately 22.88% of Tantech as of its most recent SEC filing. 6.02% of the stock is owned by hedge funds and other institutional investors.
About Tantech
Tantech Holdings Ltd (NASDAQ:TANH) is a China-based company specializing in the research, development, production and sale of bamboo-based and wood-based charcoal products and related chemical byproducts. The company operates vertically integrated manufacturing facilities in Sichuan Province, where it converts sustainably sourced bamboo into a range of charcoal goods and extracts. Its product portfolio includes bamboo charcoal briquettes and rods for air and water purification, activated charcoal for industrial and consumer uses, wood vinegar and tar for agricultural and environmental applications, and glycerin derived from biomass processing.
Alongside its core charcoal business, Tantech produces wood vinegar–based products that serve the agricultural sector as natural pesticides and soil conditioners.
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