Tantech (NASDAQ:TANH) Share Price Crosses Above Fifty Day Moving Average – What’s Next?

Tantech Holdings Ltd. (NASDAQ:TANH) shares crossed above its 50-day moving average during trading on Tuesday . The stock has a 50-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.

Analysts Set New Price Targets

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

Tantech Stock Performance

The firm’s 50 day simple moving average is $0.40 and its 200-day simple moving average is $0.74.

Institutional Investors Weigh In On Tantech

A hedge fund recently raised its stake in Tantech stock. Marex Group plc lifted its position in shares of Tantech Holdings Ltd. (NASDAQ:TANH) by 174.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,940 shares of the basic materials company’s stock after purchasing an additional 30,444 shares during the period. Marex Group plc owned about 159.80% of Tantech worth $48,000 as of its most recent SEC filing. 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.