Ridgetech (NASDAQ:RDGT) Shares Pass Below Two Hundred Day Moving Average – Time to Sell?

Shares of Ridgetech Inc. (NASDAQ:RDGT) passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $141.21 and traded as low as $1.37. Ridgetech shares last traded at $1.58, with a volume of 1,238,103 shares changing hands.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Weiss Ratings lowered Ridgetech from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, June 2nd. Wall Street Zen upgraded Ridgetech to a “buy” rating in a report on Saturday, May 9th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Ridgetech presently has an average rating of “Sell”.

Ridgetech Trading Up 12.1%

The stock’s fifty day simple moving average is $1.52 and its 200-day simple moving average is $141.21.

Insiders Place Their Bets

In other Ridgetech news, major shareholder Financial Lp Hrt bought 30,939 shares of the stock in a transaction on Tuesday, June 30th. The shares were purchased at an average price of $1.52 per share, with a total value of $47,027.28. Following the acquisition, the insider directly owned 90,302 shares of the company’s stock, valued at $137,259.04. This represents a 52.12% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In the last ninety days, insiders sold 72,615 shares of company stock worth $115,597. 22.60% of the stock is owned by corporate insiders.

Ridgetech Company Profile

China Jo-Jo Drugstores, Inc, together with its subsidiaries, operates as a retailer and distributor of pharmaceutical and other healthcare products in the People's Republic of China. The company operates through four segments: Retail Drugstores, Online Pharmacy, Drug Wholesale, and Herb Farming. Its stores provide various pharmaceutical products, including prescription and over-the-counter drugs, nutritional supplements, traditional Chinese medicines (TCM), personal and family care products, and medical devices, as well as convenience products, such as consumable, seasonal, and promotional items.