Ridgetech Inc. (NASDAQ:RDGT) Short Interest Down 61.3% in June

Ridgetech Inc. (NASDAQ:RDGT) was the recipient of a large decrease in short interest in June. As of June 30th, there was short interest totaling 33,105 shares, a decrease of 61.3% from the June 15th total of 85,468 shares. Based on an average daily trading volume, of 9,861,444 shares, the days-to-cover ratio is presently 0.0 days. Approximately 4.8% of the company’s shares are short sold.

Ridgetech Price Performance

RDGT opened at $1.51 on Monday. The company has a fifty day moving average price of $1.51 and a two-hundred day moving average price of $160.75. Ridgetech has a 52 week low of $1.18 and a 52 week high of $760.50.

Analyst Ratings Changes

Several equities analysts recently issued reports on RDGT shares. Wall Street Zen upgraded 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 research report on Tuesday, June 2nd. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company has a consensus rating of “Sell”.

Insider Buying and Selling

In other Ridgetech news, major shareholder Financial Lp Hrt sold 57,998 shares of the stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $1.60, for a total value of $92,796.80. Following the transaction, the insider directly owned 61,753 shares in the company, valued at approximately $98,804.80. This trade represents a 48.43% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last 90 days, insiders sold 72,615 shares of company stock valued at $115,597. 22.60% of the stock is currently owned by company insiders.

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.