Tantech (NASDAQ:TANH) Share Price Passes Above 50-Day Moving Average – Here’s What Happened

Tantech Holdings Ltd. (NASDAQ:TANH)’s share price crossed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $0.96 and traded as high as $0.99. Tantech shares last traded at $0.98, with a volume of 18,399 shares changing hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tantech in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, Tantech has an average rating of “Sell”.

Tantech Stock Up 10.3%

The company has a fifty day moving average price of $0.96 and a 200 day moving average price of $1.39.

Institutional Trading of Tantech

An institutional investor recently bought a new position in Tantech stock. Marex Group plc bought a new position in Tantech Holdings Ltd. (NASDAQ:TANH) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 21,737 shares of the basic materials company’s stock, valued at approximately $43,000. Marex Group plc owned about 22.88% of Tantech as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 6.02% of the company’s stock.

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.