Short Interest in Tantech Holdings Ltd (NASDAQ:TANH) Drops By 55.7%

Tantech Holdings Ltd (NASDAQ:TANH) was the recipient of a large decline in short interest during the month of March. As of March 15th, there was short interest totalling 63,500 shares, a decline of 55.7% from the February 28th total of 143,200 shares. Currently, 5.5% of the company’s stock are sold short. Based on an average daily trading volume, of 208,800 shares, the days-to-cover ratio is currently 0.3 days.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Tantech

An institutional investor recently bought a new position in Tantech stock. Virtu Financial LLC bought a new position in shares of Tantech Holdings Ltd (NASDAQ:TANH) during the 4th quarter, according to its most recent 13F 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 $2.29 on Friday. The company’s 50 day moving average is $3.99 and its two-hundred day moving average is $5.79. Tantech has a twelve month low of $2.12 and a twelve month high of $63.60.

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.