Ridgetech Inc. (NASDAQ:RDGT) Short Interest Down 77.1% in April
by Jessica Moore · The Cerbat GemRidgetech Inc. (NASDAQ:RDGT – Get Free Report) was the target of a large drop in short interest during the month of April. As of April 15th, there was short interest totaling 123,021 shares, a drop of 77.1% from the March 31st total of 536,780 shares. Based on an average daily trading volume, of 1,812,219 shares, the days-to-cover ratio is presently 0.1 days. Currently, 17.7% of the company’s stock are short sold.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Ridgetech in a research report on Friday, March 27th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the company has an average rating of “Sell”.
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Ridgetech Price Performance
NASDAQ:RDGT opened at $1.84 on Monday. Ridgetech has a twelve month low of $1.62 and a twelve month high of $760.50. The stock’s 50 day moving average price is $162.74 and its two-hundred day moving average price is $323.69.
Ridgetech (NASDAQ:RDGT – Get Free Report) last posted its quarterly earnings results on Thursday, March 5th. The company reported ($0.75) earnings per share for the quarter. The business had revenue of $31.40 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.