Short Interest in Tantech Holdings Ltd. (NASDAQ:TANH) Expands By 82.9%

Tantech Holdings Ltd. (NASDAQ:TANH) was the recipient of a significant growth in short interest in July. As of July 15th, there was short interest totaling 969,749 shares, a growth of 82.9% from the June 30th total of 530,230 shares. Based on an average daily volume of 1,616,726 shares, the days-to-cover ratio is currently 0.6 days. Currently, 16.2% of the shares of the stock are sold short.

Tantech Price Performance

TANH opened at $0.41 on Thursday. The company’s 50 day simple moving average is $0.44 and its two-hundred day simple moving average is $0.60. Tantech has a 1-year low of $0.30 and a 1-year high of $2.59.

Hedge Funds Weigh In On Tantech

A hedge fund recently raised its stake in Tantech stock. Marex Group plc raised its stake in Tantech Holdings Ltd. (NASDAQ:TANH) by 174.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 47,940 shares of the basic materials company’s stock after buying an additional 30,444 shares during the quarter. Marex Group plc owned approximately 159.80% of Tantech worth $48,000 at the end of the most recent quarter. 6.02% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Weiss Ratings lowered Tantech from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, July 10th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Tantech Company Profile

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.