Tantech (NASDAQ:TANH) Coverage Initiated by Analysts at StockNews.com

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

Tantech Stock Performance

TANH stock opened at $2.13 on Monday. Tantech has a 52 week low of $1.82 and a 52 week high of $376.78. The firm’s 50-day moving average is $5.02 and its two-hundred day moving average is $6.08.

Institutional Trading of Tantech

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Renaissance Technologies LLC raised its holdings 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 worth $235,000 after purchasing an additional 134,694 shares in the last quarter. Virtu Financial LLC raised its holdings in shares of Tantech by 21.8% in the 2nd quarter. Virtu Financial LLC now owns 224,686 shares of the basic materials company’s stock worth $66,000 after purchasing an additional 40,178 shares in the last quarter. Finally, Millennium Management LLC bought a new stake in shares of Tantech in the 2nd quarter worth approximately $61,000. 56.39% of the stock is currently owned by institutional investors.

Tantech Company Profile

(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.

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