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

Tantech Holdings Ltd. (NASDAQ:TANH) passed below its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $1.03 and traded as low as $0.9788. Tantech shares last traded at $0.9823, with a volume of 10,382 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Tantech in a research report on Monday, December 29th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has an average rating of “Sell”.

Tantech Stock Up 5.2%

The company has a 50 day simple moving average of $1.03 and a 200-day simple moving average of $1.55.

Institutional Investors Weigh In On Tantech

An institutional investor recently bought a new position in Tantech stock. Marex Group plc acquired a new position in Tantech Holdings Ltd. (NASDAQ:TANH) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 21,737 shares of the basic materials company’s stock, valued at approximately $43,000. Marex Group plc owned approximately 22.88% of Tantech as of its most recent SEC filing. 6.02% of the stock is currently owned by institutional investors and hedge funds.

About Tantech

Tantech Holdings Ltd (NASDAQ:TANH) is a China-based company specializing in the research, development, production and sale of bamboo-based and wood-based charcoal products and related chemical byproducts. The company operates vertically integrated manufacturing facilities in Sichuan Province, where it converts sustainably sourced bamboo into a range of charcoal goods and extracts. Its product portfolio includes bamboo charcoal briquettes and rods for air and water purification, activated charcoal for industrial and consumer uses, wood vinegar and tar for agricultural and environmental applications, and glycerin derived from biomass processing.

Alongside its core charcoal business, Tantech produces wood vinegar–based products that serve the agricultural sector as natural pesticides and soil conditioners.