Ridgetech (NASDAQ:RDGT) Shares Pass Below Two Hundred Day Moving Average – Time to Sell?

Ridgetech Inc. (NASDAQ:RDGT)’s stock price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $141.21 and traded as low as $1.37. Ridgetech shares last traded at $1.58, with a volume of 1,238,103 shares changing hands.

Analyst Ratings Changes

A number of brokerages have weighed in on RDGT. Wall Street Zen raised shares of Ridgetech to a “buy” rating in a report on Saturday, May 9th. Weiss Ratings downgraded shares of Ridgetech from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, June 2nd. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Ridgetech presently has a consensus rating of “Sell”.

Ridgetech Stock Up 12.1%

The firm has a fifty day simple moving average of $1.52 and a 200 day simple moving average of $141.21.

Insider Activity

In other news, major shareholder Financial Lp Hrt bought 30,939 shares of the business’s stock in a transaction that occurred on Tuesday, June 30th. The stock was acquired at an average cost of $1.52 per share, for a total transaction of $47,027.28. Following the completion of the purchase, the insider owned 90,302 shares of the company’s stock, valued at $137,259.04. This trade represents a 52.12% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold 72,615 shares of company stock worth $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.