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

Tantech Holdings Ltd. (NASDAQ:TANH)’s share price passed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $1.13 and traded as low as $0.8999. Tantech shares last traded at $1.00, with a volume of 73,769 shares.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tantech in a research report on Monday. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has a consensus rating of “Sell”.

Tantech Stock Up 1.0%

The firm has a fifty day moving average of $1.12 and a 200 day moving average of $1.65.

Hedge Funds Weigh In On Tantech

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