Tantech Holdings Ltd (NASDAQ:TANH) Short Interest Up 185.2% in May

Tantech Holdings Ltd (NASDAQ:TANH – Get Rating) was the target of a significant increase in short interest during the month of May. As of May 15th, there was short interest totalling 17,400 shares, an increase of 185.2% from the April 30th total of 6,100 shares. Based on an average daily trading volume, of 121,700 shares, the short-interest ratio is currently 0.1 days. Currently, 0.8% of the shares of the company are short sold.

Institutional Investors Weigh In On Tantech

A number of hedge funds have recently bought and sold shares of the business. Virtu Financial LLC raised its stake in Tantech by 21.8% during the second quarter. Virtu Financial LLC now owns 224,686 shares of the basic materials company’s stock valued at $66,000 after purchasing an additional 40,178 shares in the last quarter. Renaissance Technologies LLC raised its stake in Tantech by 11.3% during the third 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 in the last quarter. Finally, Millennium Management LLC purchased a new stake in Tantech during the second quarter valued at $61,000.

Tantech Stock Performance

Shares of TANH traded down $0.04 during mid-day trading on Friday, reaching $2.28. The stock had a trading volume of 17,262 shares, compared to its average volume of 102,389. The business has a fifty day moving average of $2.19 and a 200 day moving average of $2.44. Tantech has a 12 month low of $1.62 and a 12 month high of $11.84.

Wall Street Analysts Forecast Growth

Separately, StockNews.com began coverage on shares of Tantech in a research report on Wednesday. They issued a “sell” rating for the company.

About Tantech

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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.