Stock analysts at StockNews.com initiated coverage on shares of Tantech (NASDAQ:TANH – Get Rating) in a report released on Sunday. The firm set a “sell” rating on the basic materials company’s stock.
Tantech Trading Down 1.0 %
TANH stock opened at $2.95 on Friday. The business’s 50-day moving average price is $2.52 and its two-hundred day moving average price is $2.50. Tantech has a 1-year low of $1.62 and a 1-year high of $11.16.
Institutional Trading of Tantech
Several hedge funds and other institutional investors have recently modified their holdings of the company. Renaissance Technologies LLC raised its stake in shares of Tantech by 11.3% in the 3rd quarter. Renaissance Technologies LLC now owns 1,327,634 shares of the basic materials company’s stock valued at $235,000 after purchasing an additional 134,694 shares during the period. Millennium Management LLC acquired a new stake in shares of Tantech in the 2nd quarter valued at about $61,000. Finally, Virtu Financial LLC increased its position in shares of Tantech by 21.8% in the second quarter. Virtu Financial LLC now owns 224,686 shares of the basic materials company’s stock valued at $66,000 after acquiring an additional 40,178 shares during the last quarter. Institutional investors and hedge funds own 6.40% of the company’s stock.
About Tantech
Tantech Holdings Ltd. engages in the development and manufacture of bamboo-based charcoal products. It operates through the following segments: Consumer Product, Trading, and Electric Vehicle. The Consumer Product segment includes purification and deodorization products, cleaning products, and barbecue charcoals designed for the domestic market that are sold under the brand name Charcoal Doctor.
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