Ridgetech Inc. (NASDAQ:RDGT) Sees Large Decline in Short Interest

Ridgetech Inc. (NASDAQ:RDGT) was the target of a large decrease in short interest during the month of April. As of April 30th, there was short interest totaling 51,471 shares, a decrease of 58.2% from the April 15th total of 123,021 shares. Based on an average daily volume of 198,508 shares, the short-interest ratio is currently 0.3 days. Currently, 7.4% of the company’s shares are short sold.

Wall Street Analyst Weigh In

Several brokerages have recently commented on RDGT. Weiss Ratings raised Ridgetech from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday. Wall Street Zen raised Ridgetech to a “buy” rating in a research note on Saturday, May 9th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Ridgetech currently has an average rating of “Sell”.

Ridgetech Stock Performance

Shares of Ridgetech stock traded down $0.07 during trading hours on Friday, hitting $1.35. The company’s stock had a trading volume of 48,407 shares, compared to its average volume of 143,669. Ridgetech has a twelve month low of $1.21 and a twelve month high of $760.50. The firm has a fifty day moving average of $101.63 and a 200-day moving average of $302.31.

Ridgetech (NASDAQ:RDGT) last posted its earnings results on Thursday, March 5th. The company reported ($0.75) earnings per share (EPS) for the quarter. The company had revenue of $31.40 million during the quarter.

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.