Insider Selling: Ridgetech (NASDAQ:RDGT) Major Shareholder Sells $92,796.80 in Stock

Ridgetech Inc. (NASDAQ:RDGT) major shareholder Financial Lp Hrt sold 57,998 shares of Ridgetech stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $1.60, for a total transaction of $92,796.80. Following the transaction, the insider directly owned 61,753 shares of the company’s stock, valued at approximately $98,804.80. This trade represents a 48.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Financial Lp Hrt also recently made the following trade(s):

• On Monday, June 15th, Financial Lp Hrt sold 8,091 shares of Ridgetech stock. The shares were sold at an average price of $1.60, for a total transaction of $12,945.60.
• On Friday, June 12th, Financial Lp Hrt sold 6,526 shares of Ridgetech stock. The stock was sold at an average price of $1.51, for a total transaction of $9,854.26.

Ridgetech Stock Performance

NASDAQ:RDGT opened at $1.40 on Friday. Ridgetech Inc. has a 52 week low of $1.21 and a 52 week high of $760.50. The stock’s 50-day moving average price is $1.70 and its 200-day moving average price is $222.73.

Analyst Ratings Changes

RDGT has been the subject of a number of research analyst reports. Weiss Ratings cut shares of Ridgetech from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, June 2nd. Wall Street Zen raised shares of 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 data from MarketBeat.com, the stock presently has a consensus rating of “Sell”.

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.