Short Interest in Ridgetech Inc. (NASDAQ:RDGT) Expands By 3,479.5%

by · The Markets Daily

Ridgetech Inc. (NASDAQ:RDGT – Get Free Report) was the target of a large increase in short interest during the month of March. As of March 31st, there was short interest totaling 536,780 shares, an increase of 3,479.5% from the March 15th total of 14,996 shares. Based on an average daily trading volume, of 81,917,035 shares, the short-interest ratio is currently 0.0 days. Currently, 565.0% of the shares of the company are sold short.

Analysts Set New Price Targets

Separately, Weiss Ratings restated 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, Based on data from MarketBeat.com, the company currently has an average rating of “Sell”.

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Ridgetech Stock Performance

NASDAQ RDGT traded down $0.44 on Friday, reaching $2.52. The stock had a trading volume of 414,668 shares, compared to its average volume of 366,469. The firm has a fifty day moving average of $206.15 and a two-hundred day moving average of $333.93. Ridgetech has a 1-year low of $2.44 and a 1-year high of $760.50.

Ridgetech (NASDAQ:RDGT – Get Free Report) last released its quarterly earnings results on Thursday, March 5th. The company reported ($0.75) EPS for the quarter. The company had revenue of $31.40 million for the quarter.

Ridgetech Company Profile

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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.

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