Ridgetech Inc. (NASDAQ:RDGT) Short Interest Down 58.2% in April

Ridgetech Inc. (NASDAQ:RDGT) was the target of a significant decline in short interest during the month of April. As of April 30th, there was short interest totaling 51,471 shares, a decline of 58.2% from the April 15th total of 123,021 shares. Based on an average daily trading volume, of 198,508 shares, the days-to-cover ratio is currently 0.3 days. Currently, 7.4% of the shares of the company are sold short.

Ridgetech Price Performance

Shares of Ridgetech stock traded down $0.07 on Friday, reaching $1.35. The stock had a trading volume of 48,407 shares, compared to its average volume of 143,669. Ridgetech has a fifty-two week low of $1.21 and a fifty-two week high of $760.50. The business’s 50-day moving average price is $101.63 and its two-hundred day moving average price is $302.10.

Ridgetech (NASDAQ:RDGT) last released its earnings results on Thursday, March 5th. The company reported ($0.75) EPS for the quarter. The company had revenue of $31.40 million for the quarter.

Analyst Ratings Changes

RDGT has been the subject of a number of analyst reports. Wall Street Zen upgraded shares of Ridgetech to a “buy” rating in a research note on Saturday, May 9th. Weiss Ratings upgraded shares of Ridgetech from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company 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.