Wall Street Zen Downgrades Ridgetech (NASDAQ:RDGT) to Hold

Ridgetech (NASDAQ:RDGT) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.

Separately, Weiss Ratings downgraded 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 MarketBeat.com, the stock has an average rating of “Sell”.

Ridgetech Price Performance

RDGT opened at $0.76 on Friday. The company has a fifty day moving average of $1.46 and a 200 day moving average of $111.76. Ridgetech has a fifty-two week low of $0.71 and a fifty-two week high of $760.50.

Ridgetech (NASDAQ:RDGT) last announced its quarterly earnings results on Friday, July 31st. The company reported ($7.86) EPS for the quarter. The business had revenue of $34.68 million for the quarter.

Insiders Place Their Bets

In other Ridgetech news, major shareholder Financial Lp Hrt purchased 30,939 shares of the firm’s stock in a transaction that occurred on Tuesday, June 30th. The shares were bought at an average price of $1.52 per share, with a total value of $47,027.28. Following the completion of the purchase, the insider directly owned 90,302 shares in the company, valued at $137,259.04. This trade represents a 52.12% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders have sold a total of 72,615 shares of company stock valued at $115,597 in the last quarter. Insiders own 22.60% of the company’s stock.

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.