Ridgetech (NASDAQ:RDGT) Stock Crosses Below 200 Day Moving Average – Should You Sell?

Ridgetech Inc. (NASDAQ:RDGT) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $208.46 and traded as low as $1.42. Ridgetech shares last traded at $1.50, with a volume of 1,959,930 shares.

Analyst Ratings Changes

A number of brokerages recently issued reports on RDGT. Weiss Ratings downgraded 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 report on Saturday, May 9th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, Ridgetech presently has a consensus rating of “Sell”.

Ridgetech Price Performance

The company’s fifty day moving average is $1.62 and its two-hundred day moving average is $208.46.

Insider Activity at Ridgetech

In other news, major shareholder Financial Lp Hrt sold 57,998 shares of the firm’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $1.60, for a total transaction of $92,796.80. Following the completion of the transaction, the insider directly owned 61,753 shares in the company, valued at $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 SEC, which is available at the SEC website. Insiders sold 72,615 shares of company stock worth $115,597 in the last ninety 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.