Tantech (NASDAQ:TANH) Stock Price Crosses Above 50 Day Moving Average of $0.72

Tantech Holdings Ltd (NASDAQ:TANH)’s stock price passed above its 50 day moving average during trading on Thursday . The stock has a 50 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 changing hands.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on shares of Tantech in a research note on Thursday, December 21st. They set a “sell” rating for the company.

Tantech Trading Down 8.8 %

The business has a 50-day moving average price of $0.72 and a 200-day moving average price of $1.29.

Institutional Investors Weigh In On Tantech

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TANH. Millennium Management LLC acquired a new position in shares of Tantech during the second quarter valued at about $61,000. Virtu Financial LLC grew its position in Tantech by 21.8% during the 2nd quarter. Virtu Financial LLC now owns 224,686 shares of the basic materials company’s stock worth $66,000 after purchasing an additional 40,178 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new position in Tantech during the 1st quarter valued at approximately $185,000. 6.02% of the stock is currently owned by hedge funds and other institutional investors.

Tantech Company Profile

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.