Ridgetech (NASDAQ:RDGT) Share Price Breaks Below 200 Day Moving Average – Here’s What Happened

Ridgetech Inc. (NASDAQ:RDGT) shares crossed below its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $1.75 and traded as low as $0.8401. Ridgetech shares last traded at $0.8402, with a volume of 37,219 shares changing hands.

Analyst Ratings Changes

A number of equities research analysts have issued reports on RDGT shares. Wall Street Zen downgraded Ridgetech from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Weiss Ratings upgraded Ridgetech from a “sell (e+)” rating to a “sell (d)” rating in a research report on Wednesday, August 5th. One investment analyst has rated the stock with a Sell rating. According to MarketBeat, the company has an average rating of “Sell”.

Ridgetech Trading Up 0.9%

The stock has a 50-day moving average price of $0.88 and a two-hundred day moving average price of $1.62.

Ridgetech (NASDAQ:RDGT) last posted its earnings results on Saturday, August 1st. The company reported ($7.86) EPS for the quarter. The firm had revenue of $34.68 million during the quarter.

Ridgetech Company Profile

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.