StockNews.com Initiates Coverage on Tantech (NASDAQ:TANH)

StockNews.com started coverage on shares of Tantech (NASDAQ:TANHGet Rating) in a note issued to investors on Sunday. The brokerage set a “sell” rating on the basic materials company’s stock.

Tantech Price Performance

NASDAQ:TANH opened at $0.22 on Friday. Tantech has a 1 year low of $0.20 and a 1 year high of $15.70. The business has a 50 day simple moving average of $0.27 and a 200-day simple moving average of $0.40.

Institutional Investors Weigh In On Tantech

Hedge funds and other institutional investors have recently modified their holdings of the business. Renaissance Technologies LLC raised its holdings in shares of Tantech by 206.8% in the second quarter. Renaissance Technologies LLC now owns 1,192,940 shares of the basic materials company’s stock worth $348,000 after buying an additional 804,150 shares during the period. Virtu Financial LLC purchased a new stake in shares of Tantech in the first quarter worth approximately $88,000. Finally, Millennium Management LLC purchased a new stake in shares of Tantech in the second quarter worth approximately $61,000. 56.39% of the stock is currently owned by hedge funds and other institutional investors.

About Tantech

(Get Rating)

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 two segments: Consumer Products and Electric Vehicle.

Featured Articles

Receive News & Ratings for Tantech Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tantech and related companies with MarketBeat.com's FREE daily email newsletter.