Tantech (NASDAQ:TANH) Shares Cross Above 50-Day Moving Average – Here’s Why

Tantech Holdings Ltd. (NASDAQ:TANH)’s stock price passed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $0.92 and traded as high as $1.03. Tantech shares last traded at $1.03, with a volume of 260,032 shares traded.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Tantech in a research note on Monday, December 29th. One investment 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 Up 35.3%

The stock has a 50 day simple moving average of $0.92 and a 200 day simple moving average of $1.29.

Institutional Inflows and Outflows

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

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.