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

Tantech Holdings Ltd. (NASDAQ:TANH) shares 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.

Analyst Upgrades and Downgrades

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

Tantech Stock Up 10.3%

The business has a 50 day moving average of $0.96 and a 200 day moving average of $1.39.

Institutional Investors Weigh In On Tantech

An institutional investor recently raised its position in Tantech stock. Marex Group plc lifted its stake in shares of Tantech Holdings Ltd. (NASDAQ:TANH) by 174.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 47,940 shares of the basic materials company’s stock after buying an additional 30,444 shares during the quarter. Marex Group plc owned about 159.80% of Tantech worth $48,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 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.