Weiss Ratings Reiterates Sell (E+) Rating for Tantech (NASDAQ:TANH)

Tantech (NASDAQ:TANH)‘s stock had its “sell (e+)” rating restated by research analysts at Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

Tantech Trading Up 6.7%

Shares of NASDAQ:TANH opened at $1.90 on Wednesday. The company’s 50-day moving average price is $1.94 and its 200 day moving average price is $2.01. Tantech has a fifty-two week low of $1.45 and a fifty-two week high of $10.77.

Institutional Trading of Tantech

A hedge fund recently bought a new stake in Tantech stock. Marex Group plc bought a new position in Tantech Holdings Ltd. (NASDAQ:TANH) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 21,737 shares of the basic materials company’s stock, valued at approximately $43,000. Marex Group plc owned approximately 22.88% of Tantech at the end of the most recent reporting period. 6.02% of the stock is currently owned by hedge funds and other institutional investors.

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.