Tantech (NASDAQ:TANH) Now Covered by Analysts at StockNews.com

Analysts at StockNews.com assumed coverage on shares of Tantech (NASDAQ:TANH – Get Rating) in a research note issued on Sunday. The firm set a “sell” rating on the basic materials company’s stock.

Tantech Trading Up 7.0 %

NASDAQ:TANH opened at $2.76 on Friday. The stock has a fifty day moving average price of $2.75 and a 200 day moving average price of $3.93. Tantech has a 12-month low of $1.82 and a 12-month high of $53.28.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of TANH. Renaissance Technologies LLC boosted its holdings in Tantech by 206.8% in the second quarter. Renaissance Technologies LLC now owns 1,192,940 shares of the basic materials company’s stock valued at $348,000 after purchasing an additional 804,150 shares during the period. Millennium Management LLC purchased a new stake in Tantech during the 2nd quarter worth about $61,000. Finally, Virtu Financial LLC purchased a new stake in Tantech during the 1st quarter worth about $88,000.

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.