Short Interest in Tantech Holdings Ltd (NASDAQ:TANH) Grows By 723.0%

Tantech Holdings Ltd (NASDAQ:TANH) was the target of a significant increase in short interest in February. As of February 28th, there was short interest totalling 143,200 shares, an increase of 723.0% from the February 13th total of 17,400 shares. Based on an average daily volume of 258,100 shares, the short-interest ratio is presently 0.6 days. Currently, 14.4% of the shares of the stock are sold short.

Hedge Funds Weigh In On Tantech

A hedge fund recently bought a new stake in Tantech stock. Virtu Financial LLC bought a new stake in Tantech Holdings Ltd (NASDAQ:TANH) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 166,575 shares of the basic materials company’s stock, valued at approximately $35,000. Virtu Financial LLC owned about 4.38% of Tantech at the end of the most recent reporting period. 6.02% of the stock is owned by hedge funds and other institutional investors.

Tantech Price Performance

NASDAQ TANH opened at $2.94 on Thursday. Tantech has a one year low of $2.55 and a one year high of $63.60. The business has a fifty day moving average price of $5.06 and a 200 day moving average price of $6.06.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on shares of Tantech in a research note on Tuesday, February 18th. They set a “sell” rating for the company.

About Tantech

Tantech Holdings Ltd, together with its subsidiaries, develops and manufactures bamboo-based charcoal products for industrial energy, household cooking, heating, purification, agricultural, and cleaning applications in the People's Republic of China and internationally. The company operates in three segments: Consumer Products, Electric Vehicles, and Biodegradable Packaging.