Begins Coverage on Tantech (NASDAQ:TANH) started coverage on shares of Tantech (NASDAQ:TANHGet Rating) in a research note issued to investors on Saturday. The firm issued a sell rating on the basic materials company’s stock.

Tantech stock opened at $0.26 on Friday. Tantech has a twelve month low of $0.20 and a twelve month high of $15.70. The stock’s fifty day simple moving average is $0.42 and its 200-day simple moving average is $0.59.

Hedge funds and other institutional investors have recently modified their holdings of the business. Morgan Stanley boosted its stake in shares of Tantech by 7,177.5% in the 2nd quarter. Morgan Stanley now owns 181,937 shares of the basic materials company’s stock valued at $226,000 after buying an additional 179,437 shares during the period. Renaissance Technologies LLC purchased a new position in Tantech in the first quarter worth approximately $185,000. Virtu Financial LLC acquired a new position in Tantech during the 1st quarter worth approximately $88,000. Citadel Advisors LLC purchased a new stake in shares of Tantech in the 3rd quarter valued at approximately $77,000. Finally, Two Sigma Advisers LP raised its holdings in shares of Tantech by 13.3% in the 3rd quarter. Two Sigma Advisers LP now owns 112,400 shares of the basic materials company’s stock valued at $75,000 after purchasing an additional 13,200 shares in the last quarter.

About Tantech (Get Rating)

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, Trading, and Electric Vehicle.

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