Tantech (NASDAQ:TANH) Stock Price Passes Above Fifty Day Moving Average – Here’s What Happened

Tantech Holdings Ltd. (NASDAQ:TANH) passed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $0.40 and traded as high as $0.4981. Tantech shares last traded at $0.4318, with a volume of 116,241 shares traded.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings downgraded Tantech from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, June 3rd. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has an average rating of “Sell”.

Tantech Stock Down 19.7%

The firm’s 50-day moving average price is $0.41 and its two-hundred day moving average price is $0.73.

Hedge Funds Weigh In On Tantech

An institutional investor recently raised its stake in Tantech stock. Marex Group plc raised its position in shares of Tantech Holdings Ltd. (NASDAQ:TANH) by 174.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 47,940 shares of the basic materials company’s stock after purchasing an additional 30,444 shares during the quarter. Marex Group plc owned 159.80% of Tantech worth $48,000 at the end of the most recent quarter. 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.