Ridgetech (NASDAQ:RDGT) Share Price Crosses Below 200-Day Moving Average – Time to Sell?

Ridgetech Inc. (NASDAQ:RDGT)’s share price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $208.46 and traded as low as $1.42. Ridgetech shares last traded at $1.50, with a volume of 1,959,930 shares traded.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on RDGT. Wall Street Zen upgraded Ridgetech to a “buy” rating in a report on Saturday, May 9th. Weiss Ratings lowered shares of Ridgetech from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, June 2nd. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Ridgetech currently has a consensus rating of “Sell”.

Ridgetech Price Performance

The company has a 50 day simple moving average of $1.60 and a 200 day simple moving average of $204.34.

Insider Buying and Selling

In related news, major shareholder Financial Lp Hrt sold 57,998 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider owned 61,753 shares of the company’s stock, valued at approximately $98,804.80. This trade represents a 48.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 72,615 shares of company stock worth $115,597 in the last ninety days. Corporate insiders own 22.60% of the company’s stock.

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.