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

Tantech Holdings Ltd (NASDAQ:TANH) was the recipient of a significant drop in short interest during the month of October. As of October 31st, there was short interest totalling 700,400 shares, a drop of 26.1% from the October 15th total of 948,100 shares. Based on an average trading volume of 12,080,000 shares, the days-to-cover ratio is currently 0.1 days. Approximately 12.9% of the company’s shares are short sold.

Wall Street Analysts Forecast Growth

Separately, StockNews.com started coverage on shares of Tantech in a research note on Thursday. They set a “sell” rating for the company.

Tantech Trading Down 3.7 %

Shares of NASDAQ TANH traded down $0.01 during midday trading on Thursday, reaching $0.16. The company had a trading volume of 6,615,528 shares, compared to its average volume of 4,425,096. Tantech has a one year low of $0.12 and a one year high of $2.89. The firm’s fifty day moving average price is $0.17 and its 200-day moving average price is $0.40.

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.