StockNews.com Initiates Coverage on Tantech (NASDAQ:TANH)

StockNews.com assumed coverage on shares of Tantech (NASDAQ:TANH) in a report issued on Monday. The brokerage issued a sell rating on the basic materials company’s stock.

Tantech Trading Down 11.6 %

NASDAQ TANH opened at $0.08 on Monday. Tantech has a one year low of $0.08 and a one year high of $1.59. The stock has a 50-day moving average of $0.16 and a 200 day moving average of $0.16.

Institutional Investors Weigh In On Tantech

An institutional investor recently bought a new position in Tantech stock. Virtu Financial LLC acquired a new position in Tantech Holdings Ltd (NASDAQ:TANH) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 166,575 shares of the basic materials company’s stock, valued at approximately $35,000. Virtu Financial LLC owned approximately 4.38% of Tantech as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 6.02% of the company’s 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.