Tantech Holdings Ltd. (NASDAQ:TANH) Sees Large Decline in Short Interest

Tantech Holdings Ltd. (NASDAQ:TANH) was the recipient of a large decline in short interest in September. As of September 30th, there was short interest totaling 49,349 shares, a decline of 42.8% from the September 15th total of 86,268 shares. Based on an average daily volume of 23,088 shares, the short-interest ratio is presently 2.1 days. Approximately 7.7% of the company’s shares are sold short.

Tantech Trading Up 6.1%

Shares of Tantech stock traded up $0.78 on Friday, hitting $13.62. 34,986 shares of the company traded hands, compared to its average volume of 25,707. Tantech has a 12-month low of $10.06 and a 12-month high of $88.50. The company has a 50-day moving average price of $17.43 and a 200 day moving average price of $19.66.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised Tantech from a “sell (e)” rating to a “sell (e+)” rating in a research report on Friday, October 2nd. One analyst has rated the stock with a Sell rating. According to MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Tantech Company Profile

Tantech Holdings Ltd. is a China-based company that develops and manufactures bamboo charcoal and related products. Its product range has included charcoal-based household goods, air-purification products, heating and cooking materials, personal-care items, and agricultural or industrial applications.

The company has historically marketed its products in China and internationally through distributors, retailers, and other commercial channels. Tantech was established in Zhejiang Province, China, and has been associated with bamboo-processing and charcoal manufacturing operations in the region.

In addition to its traditional bamboo-charcoal business, Tantech has pursued other activities over time, including clean-energy and electric-vehicle-related initiatives.