Tantech Holdings Ltd (NASDAQ:TANH) Short Interest Down 77.6% in January

Tantech Holdings Ltd (NASDAQ:TANH) saw a significant drop in short interest in January. As of January 31st, there was short interest totalling 291,000 shares, a drop of 77.6% from the January 15th total of 1,300,000 shares. Based on an average trading volume of 7,690,000 shares, the days-to-cover ratio is currently 0.0 days. Currently, 4.7% of the company’s stock are sold short.

Tantech Stock Down 11.6 %

NASDAQ:TANH traded down $0.01 during trading hours on Wednesday, hitting $0.08. The stock had a trading volume of 6,428,275 shares, compared to its average volume of 4,460,296. Tantech has a 1-year low of $0.08 and a 1-year high of $1.59. The business has a 50 day simple moving average of $0.17 and a two-hundred day simple moving average of $0.17.

Tantech shares are set to reverse split before the market opens on Thursday, February 13th. The 1-40 reverse split was announced on Monday, February 10th. The number of shares owned by shareholders will be adjusted after the closing bell on Wednesday, February 12th.

Hedge Funds Weigh In On Tantech

An institutional investor recently bought a new position 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 Securities & Exchange Commission. 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 as of its most recent filing with the Securities & Exchange Commission. Institutional investors own 6.02% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com began coverage on shares of Tantech in a research report on Monday. They issued a “sell” rating for the company.

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.