Tantech Holdings Ltd (NASDAQ:TANH) Short Interest Down 77.6% in January

Tantech Holdings Ltd (NASDAQ:TANH) was the target of a significant decline in short interest in the month of January. As of January 31st, there was short interest totalling 291,000 shares, a decline of 77.6% from the January 15th total of 1,300,000 shares. Based on an average daily volume of 7,690,000 shares, the short-interest ratio is currently 0.0 days. Approximately 4.7% of the shares of the company are short sold.

Institutional Investors Weigh In On Tantech

A hedge fund recently bought a new stake in Tantech stock. Virtu Financial LLC bought a new stake in Tantech Holdings Ltd (NASDAQ:TANH) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 166,575 shares of the basic materials company’s stock, valued at approximately $35,000. Virtu Financial LLC owned approximately 4.38% of Tantech as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 6.02% of the company’s stock.

Tantech Trading Down 11.6 %

Shares of TANH traded down $0.01 during trading hours on Wednesday, hitting $0.08. 6,428,275 shares of the stock traded hands, compared to its average volume of 4,460,296. The business has a fifty day moving average of $0.17 and a 200-day moving average of $0.17. Tantech has a 1-year low of $0.08 and a 1-year high of $1.59.

Tantech’s stock is going to reverse split on the morning of Thursday, February 13th. The 1-40 reverse split was announced on Monday, February 10th. The number of shares owned by shareholders will be adjusted after the market closes on Wednesday, February 12th.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on Tantech in a research report on Monday. They issued a “sell” rating on the stock.

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.