Tantech (NASDAQ:TANH) Stock Passes Above 50-Day Moving Average – Should You Sell?

Tantech Holdings Ltd (NASDAQ:TANH) shares crossed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $2.06 and traded as high as $2.21. Tantech shares last traded at $2.11, with a volume of 29,440 shares trading hands.

Analyst Ratings Changes

Separately, Wall Street Zen assumed coverage on Tantech in a research note on Tuesday, February 18th. They issued a “sell” rating on the stock.

Tantech Stock Performance

The company’s 50 day simple moving average is $2.06 and its 200-day simple moving average is $3.95.

Institutional Investors Weigh In On Tantech

A hedge fund recently bought a new stake in Tantech stock. Virtu Financial LLC bought a new stake in Tantech Holdings Ltd (NASDAQ:TANH) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 166,575 shares of the basic materials company’s stock, valued at approximately $35,000. Virtu Financial LLC owned approximately 4.38% of Tantech as of its most recent filing with the Securities & Exchange Commission. 6.02% of the stock is owned by institutional investors.

About Tantech

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 three segments: Consumer Products, Electric Vehicles, and Biodegradable Packaging.