Ridgetech Inc. (NASDAQ:RDGT) Sees Large Drop in Short Interest

Ridgetech Inc. (NASDAQ:RDGT) saw a significant decrease in short interest in the month of April. As of April 30th, there was short interest totaling 51,471 shares, a decrease of 58.2% from the April 15th total of 123,021 shares. Approximately 7.4% of the shares of the company are sold short. Based on an average daily volume of 198,508 shares, the days-to-cover ratio is currently 0.3 days.

Ridgetech Stock Performance

RDGT stock opened at $1.35 on Friday. The company’s 50-day simple moving average is $101.63 and its 200 day simple moving average is $302.31. Ridgetech has a 52 week low of $1.21 and a 52 week high of $760.50.

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

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on RDGT shares. Weiss Ratings raised shares of Ridgetech from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday. Wall Street Zen upgraded shares of Ridgetech to a “buy” rating in a research note on Saturday, May 9th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has a consensus rating of “Sell”.

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.