Tantech Holdings Ltd. (NASDAQ:TANH) Shares Shorted: Short Interest Down 42.8% in September

Tantech Holdings Ltd. (NASDAQ:TANH) was the recipient of a large decline in short interest during the month of September. As of September 30th, there was short interest totaling 49,349 shares, a decline of 42.8% from the September 15th total of 86,268 shares. Based on an average daily trading volume, of 23,088 shares, the days-to-cover ratio is currently 2.1 days. Currently, 7.7% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

TANH has been the subject of a number of research analyst reports. Weiss Ratings upgraded Tantech from a “sell (e)” rating to a “sell (e+)” rating in a research note on Friday, October 2nd. Wall Street Zen downgraded Tantech to a “strong sell” rating in a report on Saturday. One analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, Tantech currently has an average rating of “Sell”.

Tantech Stock Up 6.1%

NASDAQ:TANH traded up $0.78 during trading hours on Friday, hitting $13.62. 34,986 shares of the company were exchanged, compared to its average volume of 43,446. Tantech has a 52-week low of $10.06 and a 52-week high of $88.50. The company’s 50 day moving average price is $17.28 and its 200-day moving average price is $19.61.

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.