Insider Buying: Ridgetech (NASDAQ:RDGT) Major Shareholder Purchases $15,295.50 in Stock

Ridgetech Inc. (NASDAQ:RDGT) major shareholder Financial Lp Hrt acquired 10,197 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The shares were acquired at an average cost of $1.50 per share, with a total value of $15,295.50. Following the purchase, the insider directly owned 100,499 shares of the company’s stock, valued at $150,748.50. This trade represents a 11.29% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Financial Lp Hrt also recently made the following trade(s):

• On Tuesday, June 30th, Financial Lp Hrt bought 30,939 shares of Ridgetech stock. The stock was acquired at an average price of $1.52 per share, for a total transaction of $47,027.28.
• On Tuesday, June 16th, Financial Lp Hrt sold 57,998 shares of Ridgetech stock. The stock was sold at an average price of $1.60, for a total value of $92,796.80.
• On Monday, June 15th, Financial Lp Hrt sold 8,091 shares of Ridgetech stock. The shares were sold at an average price of $1.60, for a total value of $12,945.60.
• On Friday, June 12th, Financial Lp Hrt sold 6,526 shares of Ridgetech stock. The stock was sold at an average price of $1.51, for a total value of $9,854.26.

Ridgetech Stock Performance

RDGT stock opened at $1.53 on Friday. The company’s 50 day moving average is $1.54 and its 200 day moving average is $180.44. Ridgetech Inc. has a 1-year low of $1.21 and a 1-year high of $760.50.

Analysts Set New Price Targets

RDGT has been the topic of several research reports. Wall Street Zen upgraded shares of Ridgetech to a “buy” rating in a research report on Saturday, May 9th. Weiss Ratings lowered shares of Ridgetech from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, June 2nd. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has an average 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.