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

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Tantech Holdings Ltd (NASDAQ:TANH) saw a significant growth in short interest in July. As of July 15th, there was short interest totalling 279,100 shares, a growth of 33.0% from the June 30th total of 209,900 shares. Approximately 1.6% of the company’s stock are short sold. Based on an average daily volume of 268,900 shares, the days-to-cover ratio is currently 1.0 days.

Shares of TANH opened at $1.78 on Friday. The stock has a 50 day moving average of $1.38 and a 200 day moving average of $1.21. Tantech has a 12 month low of $0.81 and a 12 month high of $2.55.

An institutional investor recently raised its position in Tantech stock. Renaissance Technologies LLC lifted its holdings in shares of Tantech Holdings Ltd (NASDAQ:TANH) by 52.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 704,101 shares of the basic materials company’s stock after acquiring an additional 241,887 shares during the quarter. Renaissance Technologies LLC owned 2.44% of Tantech worth $1,274,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 1.95% of the company’s stock.

Separately, ValuEngine downgraded Tantech from a “hold” rating to a “sell” rating in a research report on Wednesday, July 8th.

Tantech Company Profile

Tantech Holdings Ltd. develops and manufactures bamboo-based charcoal products in the People's Republic of China and internationally. The company operates through three segments: Consumer Products, Trading, and Electric Vehicle. It produces pressed and formed charcoal briquettes for use in grills, incense burners, and other applications under the Algold brand.

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