Tantech (NASDAQ:TANH) Shares Pass Above 50-Day Moving Average of $0.72

Shares of Tantech Holdings Ltd (NASDAQ:TANH) passed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $0.72 and traded as high as $0.73. Tantech shares last traded at $0.67, with a volume of 3,725,943 shares.

Analyst Ratings Changes

Separately, StockNews.com assumed coverage on Tantech in a research report on Thursday, December 21st. They issued a “sell” rating on the stock.

Tantech Stock Down 8.8 %

The company’s 50 day moving average price is $0.72 and its 200 day moving average price is $1.29.

Institutional Trading of Tantech

Several hedge funds have recently modified their holdings of the stock. Renaissance Technologies LLC acquired a new position in Tantech during the 1st quarter worth $185,000. Virtu Financial LLC acquired a new position in shares of Tantech during the 1st quarter worth about $88,000. Finally, Millennium Management LLC acquired a new position in Tantech in the second quarter valued at approximately $61,000. 6.02% of the stock is currently owned by institutional investors and hedge funds.

About Tantech

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, Electric Vehicles, and Biodegradable Packaging.