Tantech Holdings Ltd. (NASDAQ:TANH) Sees Large Drop in Short Interest

Tantech Holdings Ltd. (NASDAQ:TANH) saw a large decrease in short interest in the month of September. As of September 15th, there was short interest totaling 86,268 shares, a decrease of 89.3% from the August 31st total of 802,659 shares. Approximately 13.4% of the shares of the company are sold short. Based on an average daily volume of 289,578 shares, the days-to-cover ratio is presently 0.3 days.

Tantech Stock Up 0.3%

TANH traded up $0.05 during trading hours on Thursday, reaching $14.50. The company’s stock had a trading volume of 7,998 shares, compared to its average volume of 152,001. The company’s 50-day moving average is $19.17 and its 200-day moving average is $22.35. Tantech has a 52 week low of $10.06 and a 52 week high of $98.00.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings cut Tantech from a “sell (e+)” rating to a “sell (e)” rating in a report on Thursday, September 17th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has a consensus rating of “Sell”.

About Tantech

Tantech Holdings Ltd. is a China-based manufacturer and distributor of bamboo charcoal and related products. The company’s product portfolio has included household charcoal products, such as air-purifying and deodorizing bags, as well as barbecue charcoal, activated carbon, and other charcoal-based consumer goods.

Tantech has also operated in industrial energy products, including bamboo-charcoal briquettes and other charcoal-based fuels used for heating and energy applications. Its business has historically focused on using bamboo as a raw material, reflecting the company’s origins in Zhejiang Province, a major bamboo-producing region of China.

The company has marketed its products in China and has reported sales to international markets, including parts of Asia, Europe, and North America.