Tantech (NASDAQ:TANH) Shares Cross Below Fifty Day Moving Average – Time to Sell?

Shares of Tantech Holdings Ltd (NASDAQ:TANH) passed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $2.83 and traded as low as $1.75. Tantech shares last traded at $1.96, with a volume of 52,656 shares traded.

Analyst Ratings Changes

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

Tantech Price Performance

The firm has a 50-day moving average of $2.70 and a 200 day moving average of $5.31.

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 fourth quarter, according to its most recent filing with the SEC. The firm 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 quarter. 6.02% of the stock is currently owned by hedge funds and other institutional investors.

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.