Tantech (NASDAQ:TANH) Share Price Crosses Below Fifty Day Moving Average – Here’s What Happened
by Tristan Rich · The Markets DailyShares of Tantech Holdings Ltd. (NASDAQ:TANH – Get Free Report) crossed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $0.78 and traded as low as $0.3374. Tantech shares last traded at $0.3648, with a volume of 50,282 shares trading hands.
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tantech in a research note on Monday, December 29th. One analyst has rated the stock with a Sell rating, According to MarketBeat, Tantech currently has an average rating of “Sell”.
Check Out Our Latest Analysis on TANH
Tantech Stock Performance
The company’s 50 day moving average price is $0.77 and its 200-day moving average price is $1.08.
Hedge Funds Weigh In On Tantech
An institutional investor recently bought a new position in Tantech stock. Marex Group plc acquired a new position in shares of Tantech Holdings Ltd. (NASDAQ:TANH – Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 21,737 shares of the basic materials company’s stock, valued at approximately $43,000. Marex Group plc owned 22.88% of Tantech as of its most recent SEC filing. Institutional investors own 6.02% of the company’s stock.
Tantech Company Profile
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.