Short Interest in Ridgetech Inc. (NASDAQ:RDGT) Decreases By 77.1%

Ridgetech Inc. (NASDAQ:RDGT) was the recipient of a significant decline in short interest during the month of April. As of April 15th, there was short interest totaling 123,021 shares, a decline of 77.1% from the March 31st total of 536,780 shares. Currently, 17.7% of the company’s stock are short sold. Based on an average daily volume of 1,812,219 shares, the days-to-cover ratio is presently 0.1 days.

Ridgetech Stock Performance

RDGT stock opened at $1.84 on Friday. The business has a 50 day moving average price of $162.74 and a 200 day moving average price of $322.79. Ridgetech has a fifty-two week low of $1.62 and a fifty-two week high of $760.50.

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

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Ridgetech in a research note on Friday, March 27th. One research analyst has rated the stock with a Sell rating, According to 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.