Ridgetech (NASDAQ:RDGT) Announces Quarterly Earnings Results

Ridgetech (NASDAQ:RDGT) released its quarterly earnings results on Friday. The company reported ($7.86) earnings per share (EPS) for the quarter, FiscalAI reports. The company had revenue of $34.68 million for the quarter.

Ridgetech Stock Performance

Shares of NASDAQ RDGT traded down $0.03 during trading hours on Friday, hitting $0.76. 203,938 shares of the company traded hands, compared to its average volume of 1,483,923. The company’s 50 day moving average price is $1.47 and its 200 day moving average price is $116.89. Ridgetech has a 12 month low of $0.71 and a 12 month high of $760.50.

Analyst Upgrades and Downgrades

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

Insider Transactions at Ridgetech

In related news, major shareholder Financial Lp Hrt purchased 30,939 shares of the stock in a transaction that occurred on Tuesday, June 30th. The stock was bought at an average cost of $1.52 per share, for a total transaction of $47,027.28. Following the completion of the transaction, the insider directly owned 90,302 shares in the company, valued at $137,259.04. This represents a 52.12% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders sold 72,615 shares of company stock valued at $115,597 in the last ninety days. 22.60% of the stock is owned by company insiders.

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.