Ridgetech (NASDAQ:RDGT) Announces Earnings Results

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

Ridgetech Trading Down 4.4%

Shares of NASDAQ RDGT opened at $0.76 on Friday. The company has a 50 day simple moving average of $1.46 and a 200 day simple moving average of $111.76. Ridgetech has a 1 year low of $0.71 and a 1 year high of $760.50.

Insiders Place Their Bets

In other Ridgetech news, major shareholder Financial Lp Hrt bought 30,939 shares of Ridgetech stock in a transaction on Tuesday, June 30th. The shares were purchased at an average cost of $1.52 per share, with a total value of $47,027.28. Following the acquisition, the insider directly owned 90,302 shares of the company’s stock, valued at $137,259.04. The trade was a 52.12% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last 90 days, insiders have sold 72,615 shares of company stock worth $115,597. Insiders own 22.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Wall Street Zen cut shares of Ridgetech from a “buy” rating to a “hold” rating in a research note on Saturday. Weiss Ratings lowered Ridgetech from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, June 2nd. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently 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.