Tantech Holdings Ltd (NASDAQ:TANH) was the target of a significant decrease in short interest in the month of August. As of August 31st, there was short interest totalling 94,400 shares, a decrease of 13.4% from the July 31st total of 109,000 shares. Approximately 0.6% of the company’s shares are short sold. Based on an average trading volume of 86,500 shares, the days-to-cover ratio is currently 1.1 days.
Shares of TANH traded down $0.01 during midday trading on Friday, hitting $1.54. The stock had a trading volume of 100 shares, compared to its average volume of 195,536. Tantech has a 1 year low of $1.40 and a 1 year high of $1.94. The stock’s 50 day moving average is $1.48 and its 200 day moving average is $1.51.
A hedge fund recently raised its stake in Tantech stock. Deutsche Bank AG raised its holdings in shares of Tantech Holdings Ltd (NASDAQ:TANH) by 296.6% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 74,600 shares of the basic materials company’s stock after purchasing an additional 55,788 shares during the period. Deutsche Bank AG owned 0.26% of Tantech worth $129,000 at the end of the most recent reporting period. Institutional investors own 1.80% of the company’s stock.
Separately, ValuEngine downgraded shares of Tantech from a “hold” rating to a “sell” rating in a research note on Friday, August 2nd.
Tantech Holdings Ltd. develops and manufactures bamboo-based charcoal products in the People's Republic of China and internationally. The company operates through three segments: Consumer Products, Trading, and Electric Vehicle. It produces pressed and formed charcoal briquettes for use in grills, incense burners, and other applications under the Algold brand.
See Also: Exchange-Traded Funds (ETFs)
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.