Ridgetech (NASDAQ:RDGT) Posts Earnings Results

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

Ridgetech Stock Down 4.4%

Shares of NASDAQ RDGT traded down $0.03 during midday trading on Friday, hitting $0.76. The company had a trading volume of 203,938 shares, compared to its average volume of 2,217,216. The business has a 50-day simple moving average of $1.46 and a two-hundred day simple moving average of $113.91. Ridgetech has a twelve month low of $0.71 and a twelve month high of $760.50.

Insider Activity at Ridgetech

In other news, major shareholder Financial Lp Hrt purchased 30,939 shares of the stock in a transaction that occurred on Tuesday, June 30th. The shares were acquired at an average price of $1.52 per share, for a total transaction of $47,027.28. Following the acquisition, the insider directly owned 90,302 shares in the company, valued at approximately $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 through the SEC website. Over the last 90 days, insiders sold 72,615 shares of company stock worth $115,597. 22.60% of the stock is owned by insiders.

Analyst Ratings Changes

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

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.