Ridgetech (NASDAQ:RDGT) Stock Crosses Below 200-Day Moving Average – Time to Sell?

Ridgetech Inc. (NASDAQ:RDGT) crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $281.69 and traded as low as $1.57. Ridgetech shares last traded at $1.84, with a volume of 479,686 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Wall Street Zen raised Ridgetech to a “buy” rating in a research report on Saturday, May 9th. Weiss Ratings raised Ridgetech from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, May 13th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has an average rating of “Sell”.

Ridgetech Stock Performance

The firm has a 50-day moving average price of $41.66 and a 200-day moving average price of $281.69.

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

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.