Short Interest in Tantech Holdings Ltd (NASDAQ:TANH) Declines By 13.4%
Tantech Holdings Ltd (NASDAQ:TANH) was the target of a large drop in short interest in August. As of August 31st, there was short interest totalling 94,400 shares, a drop of 13.4% from the July 31st total of 109,000 shares. Approximately 0.6% of the company’s stock are short sold. Based on an average trading volume of 86,500 shares, the short-interest ratio is currently 1.1 days.
Shares of NASDAQ TANH traded up $0.01 during midday trading on Friday, hitting $1.55. 145,114 shares of the company’s stock were exchanged, compared to its average volume of 193,120. Tantech has a twelve month low of $1.40 and a twelve month high of $1.94. The firm’s fifty day simple moving average is $1.48 and its 200-day simple moving average is $1.51.
Separately, ValuEngine lowered Tantech from a “hold” rating to a “sell” rating in a research report on Friday, August 2nd.
Tantech Holdings Ltd. develops and manufactures bamboo-based charcoal products in the People's Republic of China and internationally. The company operates through three segments: Consumer Products, Trading, and Electric Vehicle. It produces pressed and formed charcoal briquettes for use in grills, incense burners, and other applications under the Algold brand.
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