Ridgetech (NASDAQ:RDGT) Major Shareholder Sells 57,998 Shares

Ridgetech Inc. (NASDAQ:RDGT) major shareholder Financial Lp Hrt sold 57,998 shares of the company’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $1.60, for a total value of $92,796.80. Following the transaction, the insider directly owned 61,753 shares of the company’s stock, valued at $98,804.80. The trade was a 48.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Monday, June 15th, Financial Lp Hrt sold 8,091 shares of Ridgetech stock. The stock was 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 Price Performance

Shares of RDGT stock traded up $0.04 during trading hours on Thursday, reaching $1.40. The company’s stock had a trading volume of 209,552 shares, compared to its average volume of 538,701. Ridgetech Inc. has a one year low of $1.21 and a one year high of $760.50. The firm’s fifty day simple moving average is $1.74 and its 200 day simple moving average is $229.27.

Analyst Ratings Changes

Several research analysts have recently issued reports on RDGT shares. Wall Street Zen raised Ridgetech to a “buy” rating in a research report on Saturday, May 9th. Weiss Ratings lowered 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, Based on data from MarketBeat.com, the stock presently 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.