Ridgetech (NASDAQ:RDGT) Stock Price Breaks Below 200 Day Moving Average – What’s Next?

Shares of Ridgetech Inc. (NASDAQ:RDGT) crossed below its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $29.43 and traded as low as $0.80. Ridgetech shares last traded at $0.8061, with a volume of 180,395 shares traded.

Wall Street Analysts Forecast Growth

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

Ridgetech Stock Performance

The business has a 50 day simple moving average of $0.90 and a 200-day simple moving average of $27.61.

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

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.