Tantech (NASDAQ:TANH) Stock Price Passes Above 50 Day Moving Average – Here’s What Happened
by Mitch Edgeman · The Markets DailyTantech Holdings Ltd. (NASDAQ:TANH – Get Free Report) shares crossed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $0.92 and traded as high as $1.03. Tantech shares last traded at $1.03, with a volume of 260,032 shares changing hands.
Analyst Ratings Changes
Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Tantech in a research report on Monday, December 29th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock has a consensus rating of “Sell”.
View Our Latest Stock Analysis on TANH
Tantech Stock Up 1.2%
The business’s fifty day moving average is $0.92 and its 200 day moving average is $1.28.
Institutional Inflows and Outflows
A hedge fund recently bought a new stake in Tantech stock. Marex Group plc purchased a new position in shares of Tantech Holdings Ltd. (NASDAQ:TANH – Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 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 filing with the SEC. 6.02% of the stock is currently 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.