Ridgetech (NASDAQ:RDGT) Major Shareholder Financial Lp Hrt Buys 30,939 Shares

Ridgetech Inc. (NASDAQ:RDGT) major shareholder Financial Lp Hrt purchased 30,939 shares of the stock in a transaction dated Tuesday, June 30th. The shares were acquired at an average cost of $1.52 per share, for a total transaction of $47,027.28. Following the completion of the acquisition, the insider owned 90,302 shares of the company’s stock, valued at approximately $137,259.04. This represents a 52.12% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Wednesday, July 1st, Financial Lp Hrt acquired 10,197 shares of Ridgetech stock. The stock was acquired at an average price of $1.50 per share, with a total value of $15,295.50.
• 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 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 shares were sold at an average price of $1.51, for a total transaction of $9,854.26.

Ridgetech Stock Performance

RDGT opened at $1.53 on Friday. The company’s 50-day simple moving average is $1.54 and its two-hundred day simple moving average is $187.46. Ridgetech Inc. has a 52-week low of $1.21 and a 52-week high of $760.50.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Wall Street Zen raised shares of Ridgetech to a “buy” rating in a research report on Saturday, May 9th. Weiss Ratings cut Ridgetech from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, June 2nd. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, Ridgetech 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.