Tantech (NASDAQ:TANH) Shares Cross Above 50-Day Moving Average – Here’s Why

Shares of Tantech Holdings Ltd. (NASDAQ:TANH) crossed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $0.98 and traded as high as $0.98. Tantech shares last traded at $0.8712, with a volume of 75,560 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Tantech in a report on Monday, December 29th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Tantech currently has a consensus rating of “Sell”.

Tantech Trading Down 5.0%

The stock’s 50-day moving average is $0.98 and its 200 day moving average is $1.43.

Hedge Funds Weigh In On Tantech

A hedge fund recently bought a new stake in Tantech stock. Marex Group plc acquired a new position in shares of Tantech Holdings Ltd. (NASDAQ:TANH) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 21,737 shares of the basic materials company’s stock, valued at approximately $43,000. Marex Group plc owned approximately 22.88% of Tantech at the end of the most recent quarter. 6.02% of the stock is currently owned by institutional investors.

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.