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

Tantech Holdings Ltd (NASDAQ:TANH) was the target of a significant increase in short interest during the month of 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. Currently, 14.4% of the company’s shares are sold short. Based on an average daily trading volume, of 258,100 shares, the short-interest ratio is presently 0.6 days.

Tantech Trading Down 3.7 %

NASDAQ:TANH opened at $2.83 on Friday. Tantech has a fifty-two week low of $2.55 and a fifty-two week high of $63.60. The business’s 50-day simple moving average is $4.95 and its 200-day simple moving average is $6.04.

Institutional Investors Weigh In On Tantech

A hedge fund recently bought a new stake in Tantech stock. Virtu Financial LLC purchased a new position in shares of Tantech Holdings Ltd (NASDAQ:TANH) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 166,575 shares of the basic materials company’s stock, valued at approximately $35,000. Virtu Financial LLC owned about 4.38% of Tantech as of its most recent SEC filing. Hedge funds and other institutional investors own 6.02% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on Tantech in a research report on Tuesday, February 18th. They issued a “sell” rating on the stock.

Tantech Company Profile

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.