StockNews.com Initiates Coverage on Tantech (NASDAQ:TANH)

Investment analysts at StockNews.com started coverage on shares of Tantech (NASDAQ:TANHGet Rating) in a report released on Wednesday. The firm set a “sell” rating on the basic materials company’s stock.

NASDAQ:TANH opened at $0.30 on Wednesday. Tantech has a 1 year low of $0.20 and a 1 year high of $15.70. The business has a fifty day moving average of $0.32 and a 200-day moving average of $0.51.

Several large investors have recently added to or reduced their stakes in TANH. Morgan Stanley grew its stake in shares of Tantech by 7,177.5% in the second quarter. Morgan Stanley now owns 181,937 shares of the basic materials company’s stock worth $226,000 after purchasing an additional 179,437 shares in the last quarter. Citadel Advisors LLC bought a new position in Tantech during the third quarter valued at about $77,000. Two Sigma Advisers LP boosted its stake in Tantech by 13.3% during the third quarter. Two Sigma Advisers LP now owns 112,400 shares of the basic materials company’s stock valued at $75,000 after buying an additional 13,200 shares in the last quarter. Renaissance Technologies LLC bought a new position in Tantech during the first quarter valued at about $185,000. Finally, Virtu Financial LLC bought a new position in Tantech during the first quarter valued at about $88,000.

Tantech Company Profile (Get Rating)

Tantech Holdings Ltd, together with its subsidiaries, develops and manufactures bamboo-based charcoal products for industrial energy, household cooking, heating, purification, agricultural, and cleaning applications in the People's Republic of China and internationally. The company operates in three segments: Consumer Products, Trading, and Electric Vehicle.

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