Tantech Holdings Ltd. (NASDAQ:TANH) Shares Shorted: Short Interest Down 42.8% in September

Tantech Holdings Ltd. (NASDAQ:TANH) saw a large decrease in short interest during the month of September. As of September 30th, there was short interest totaling 49,349 shares, a decrease of 42.8% from the September 15th total of 86,268 shares. Based on an average daily volume of 23,088 shares, the days-to-cover ratio is currently 2.1 days. Currently, 7.7% of the company’s shares are short sold.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded shares of Tantech from a “sell (e)” rating to a “sell (e+)” rating in a report on Friday, October 2nd. One analyst has rated the stock with a Sell rating. According to MarketBeat.com, Tantech presently has a consensus rating of “Sell”.

Tantech Price Performance

TANH traded down $0.78 during mid-day trading on Thursday, reaching $13.12. 30,292 shares of the stock were exchanged, compared to its average volume of 25,650. The company has a 50 day moving average price of $17.59 and a two-hundred day moving average price of $19.82. Tantech has a 1 year low of $10.06 and a 1 year high of $92.00.

Tantech Company Profile

Tantech Holdings Ltd. is a China-based company that develops and manufactures bamboo charcoal and related products. Its product range has included charcoal-based household goods, air-purification products, heating and cooking materials, personal-care items, and agricultural or industrial applications.

The company has historically marketed its products in China and internationally through distributors, retailers, and other commercial channels. Tantech was established in Zhejiang Province, China, and has been associated with bamboo-processing and charcoal manufacturing operations in the region.

In addition to its traditional bamboo-charcoal business, Tantech has pursued other activities over time, including clean-energy and electric-vehicle-related initiatives.