Ridgetech (NASDAQ:RDGT) Share Price Crosses Below Two Hundred Day Moving Average – What’s Next?

Ridgetech Inc. (NASDAQ:RDGT)’s stock price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $166.99 and traded as low as $1.33. Ridgetech shares last traded at $1.36, with a volume of 187,420 shares.

Analyst Upgrades and Downgrades

RDGT has been the topic of several research reports. Wall Street Zen upgraded shares of Ridgetech to a “buy” rating in a report on Saturday, May 9th. Weiss Ratings cut shares of Ridgetech from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, June 2nd. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has a consensus rating of “Sell”.

Ridgetech Trading Down 5.6%

The firm has a 50-day moving average of $1.51 and a 200 day moving average of $166.99.

Insider Activity

In other news, major shareholder Financial Lp Hrt bought 30,939 shares of Ridgetech stock in a transaction dated Tuesday, June 30th. The shares were acquired at an average cost of $1.52 per share, with a total value of $47,027.28. Following the completion of the transaction, the insider owned 90,302 shares in the company, valued at approximately $137,259.04. This trade represents a 52.12% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 72,615 shares of company stock worth $115,597 in the last 90 days. Company insiders own 22.60% of the company’s stock.

About Ridgetech

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.