Ridgetech (NASDAQ:RDGT) Share Price Passes Below Two Hundred Day Moving Average – Here’s What Happened

Shares of Ridgetech Inc. (NASDAQ:RDGT) passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $261.15 and traded as low as $1.34. Ridgetech shares last traded at $1.55, with a volume of 12,906,377 shares traded.

Analysts Set New Price Targets

Several equities analysts recently commented on RDGT shares. Weiss Ratings cut Ridgetech from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, June 2nd. Wall Street Zen upgraded Ridgetech to a “buy” rating in a research report on Saturday, May 9th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Ridgetech Trading Up 6.9%

The company’s 50-day moving average price is $2.58 and its two-hundred day moving average price is $261.15.

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.