Ridgetech Inc. (NASDAQ:RDGT) Short Interest Update

Ridgetech Inc. (NASDAQ:RDGT) was the target of a significant growth in short interest in the month of August. As of August 14th, there was short interest totaling 312,033 shares, a growth of 329.3% from the July 30th total of 72,692 shares. Approximately 11.1% of the company’s shares are sold short. Based on an average daily trading volume, of 7,771,135 shares, the short-interest ratio is presently 0.0 days.

Ridgetech Stock Up 1.3%

Shares of NASDAQ RDGT traded up $0.01 during trading on Wednesday, hitting $0.83. 65,994 shares of the company traded hands, compared to its average volume of 1,807,902. The company has a 50-day moving average price of $1.20 and a 200-day moving average price of $70.09. Ridgetech has a 1 year low of $0.67 and a 1 year high of $760.50.

Ridgetech (NASDAQ:RDGT) last issued its earnings results on Saturday, August 1st. The company reported ($7.86) earnings per share for the quarter. The company had revenue of $34.68 million during the quarter.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on RDGT shares. Wall Street Zen lowered Ridgetech from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Weiss Ratings upgraded Ridgetech from a “sell (e+)” rating to a “sell (d)” rating in a report on Wednesday, August 5th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, Ridgetech has an average rating of “Sell”.

Insider Transactions at Ridgetech

In other news, major shareholder Financial Lp Hrt bought 30,939 shares of the stock in a transaction on Tuesday, June 30th. The stock was purchased at an average cost of $1.52 per share, with a total value of $47,027.28. Following the purchase, the insider owned 90,302 shares of the company’s stock, valued at approximately $137,259.04. The trade was a 52.12% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Insiders have sold a total of 72,615 shares of company stock worth $115,597 in the last quarter. 22.60% of the stock is currently owned by company insiders.

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.