Ridgetech (NASDAQ:RDGT) Shares Break Below 200-Day Moving Average – What’s Next?

Ridgetech Inc. (NASDAQ:RDGT)’s share price passed below its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $17.51 and traded as low as $0.8451. Ridgetech shares last traded at $0.93, with a volume of 53,757 shares trading hands.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Weiss Ratings raised shares of Ridgetech from a “sell (e+)” rating to a “sell (d)” rating in a research note on Wednesday, August 5th. Wall Street Zen lowered shares of Ridgetech from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has a consensus rating of “Sell”.

Ridgetech Price Performance

The business has a 50-day simple moving average of $0.87 and a 200-day simple moving average of $13.20.

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