Tantech (NASDAQ:TANH) Cut to “Sell” at ValuEngine

ValuEngine cut shares of Tantech (NASDAQ:TANH) from a hold rating to a sell rating in a research report sent to investors on Friday morning, ValuEngine reports.

NASDAQ:TANH traded down $0.01 during trading hours on Friday, hitting $1.40. 5,118 shares of the company traded hands, compared to its average volume of 25,118. Tantech has a twelve month low of $1.40 and a twelve month high of $1.94. The stock’s 50-day moving average price is $1.47.

A hedge fund recently raised its stake in Tantech stock. Deutsche Bank AG grew its holdings in Tantech Holdings Ltd (NASDAQ:TANH) by 296.6% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 74,600 shares of the basic materials company’s stock after buying an additional 55,788 shares during the quarter. Deutsche Bank AG owned 0.26% of Tantech worth $129,000 as of its most recent filing with the SEC. Institutional investors and hedge funds own 1.96% of the company’s stock.

About Tantech

Tantech Holdings Ltd. develops and manufactures bamboo-based charcoal products in the People's Republic of China and internationally. The company operates through three segments: Consumer Products, Trading, and Electric Vehicle. It produces pressed and formed charcoal briquettes for use in grills, incense burners, and other applications under the Algold brand.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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