Tantech Holdings Ltd. (NASDAQ:TANH) Sees Significant Increase in Short Interest

Tantech Holdings Ltd. (NASDAQ:TANH) was the recipient of a large increase in short interest in July. As of July 15th, there was short interest totaling 969,749 shares, an increase of 82.9% from the June 30th total of 530,230 shares. Based on an average daily trading volume, of 1,616,726 shares, the days-to-cover ratio is currently 0.6 days. Approximately 16.2% of the shares of the company are sold short.

Institutional Trading of Tantech

An institutional investor recently raised its position in Tantech stock. Marex Group plc boosted its stake in Tantech Holdings Ltd. (NASDAQ:TANH) by 174.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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 at the end of the most recent reporting period. 6.02% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings cut Tantech from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, July 10th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has an average rating of “Sell”.

Tantech Stock Performance

Shares of NASDAQ:TANH opened at $0.42 on Friday. Tantech has a 12-month low of $0.30 and a 12-month high of $2.59. The company’s 50 day moving average price is $0.44 and its two-hundred day moving average price is $0.60.

Tantech Company Profile

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.