Ridgetech Inc. (NASDAQ:RDGT) Shares Shorted: Short Interest Down 35.5% in October

Ridgetech Inc. (NASDAQ:RDGT) was the recipient of a significant decline in short interest during the month of October. As of October 15th, there was short interest totaling 167,156 shares, a decline of 35.5% from the September 30th total of 259,247 shares. Based on an average daily volume of 70,351 shares, the short-interest ratio is currently 2.4 days. Currently, 6.0% of the shares of the company are short sold.

Ridgetech Stock Down 2.0%

RDGT stock opened at $0.79 on Wednesday. The company has a fifty day moving average price of $0.88 and a 200-day moving average price of $73.96. Ridgetech has a 52-week low of $0.67 and a 52-week high of $760.50.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Weiss Ratings restated a “sell (d)” rating on shares of Ridgetech in a research note on Tuesday. Wall Street Zen lowered shares of Ridgetech from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. One investment analyst has rated the stock with a Sell rating. According to data from MarketBeat, Ridgetech has a consensus 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.