Tantech (NASDAQ:TANH) Stock Price Breaks Below 50-Day Moving Average – Here’s What Happened

Shares of Tantech Holdings Ltd. (NASDAQ:TANH) passed below its 50 day moving average during trading on Friday. The stock has a 50 day moving average of $17.91 and traded as low as $16.26. Tantech shares last traded at $17.01, with a volume of 69,609 shares.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised Tantech from a “sell (e)” rating to a “sell (e+)” rating in a research report on Friday, October 2nd. One research analyst has rated the stock with a Sell rating. Based on data from MarketBeat, the stock has an average rating of “Sell”.

Tantech Price Performance

The business’s 50 day moving average price is $17.91 and its 200-day moving average price is $20.38.

About Tantech

Tantech Holdings Ltd. is a China-based company that develops and manufactures bamboo charcoal and related products. Its product range has included charcoal-based household goods, air-purification products, heating and cooking materials, personal-care items, and agricultural or industrial applications.

The company has historically marketed its products in China and internationally through distributors, retailers, and other commercial channels. Tantech was established in Zhejiang Province, China, and has been associated with bamboo-processing and charcoal manufacturing operations in the region.

In addition to its traditional bamboo-charcoal business, Tantech has pursued other activities over time, including clean-energy and electric-vehicle-related initiatives.