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

Tantech Holdings Ltd. (NASDAQ:TANH)’s share price crossed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $0.72 and traded as low as $0.3410. Tantech shares last traded at $0.3476, with a volume of 228,878 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tantech in a research note on Monday, December 29th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Tantech has an average rating of “Sell”.

Tantech Stock Performance

The stock has a 50-day simple moving average of $0.72 and a 200-day simple moving average of $1.03.

Hedge Funds Weigh In On Tantech

A hedge fund recently raised its stake in Tantech stock. Marex Group plc lifted its position in shares of Tantech Holdings Ltd. (NASDAQ:TANH) by 174.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 47,940 shares of the basic materials company’s stock after purchasing an additional 30,444 shares during the quarter. Marex Group plc owned about 159.80% of Tantech worth $48,000 as of its most recent filing with the SEC. Institutional investors own 6.02% of the company’s stock.

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.