Short Interest in Primech Holdings Ltd. (NASDAQ:PMEC) Increases By 723.1%

Primech Holdings Ltd. (NASDAQ:PMEC) was the target of a large growth in short interest in the month of April. As of April 30th, there was short interest totaling 434,574 shares, a growth of 723.1% from the April 15th total of 52,795 shares. Currently, 1.1% of the shares of the company are short sold. Based on an average daily trading volume, of 2,687,717 shares, the short-interest ratio is presently 0.2 days.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Primech in a report on Monday, May 4th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, Primech currently has an average rating of “Sell”.

Primech Stock Performance

Shares of NASDAQ:PMEC traded up $0.02 during midday trading on Wednesday, hitting $0.78. The stock had a trading volume of 60,047 shares, compared to its average volume of 1,554,795. The company’s 50-day moving average price is $0.69 and its 200-day moving average price is $0.90. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.32 and a quick ratio of 1.32. Primech has a fifty-two week low of $0.52 and a fifty-two week high of $2.44.

Primech (NASDAQ:PMEC) last issued its earnings results on Monday, March 30th. The company reported ($0.02) EPS for the quarter. The firm had revenue of $19.03 million for the quarter.

Primech Company Profile

Primech Holdings Ltd. provides facilities and stewarding services in the public and private sectors in Singapore. Its facilities services include educational institutions cleaning, airport cleaning, and conservancy areas cleaning services, as well as offers cleaning of hotels, public spaces, roads, condominium, office, industrial, and retail stores. The company offers housekeeping services; specialized cleaning services, including marble polishing, building façade cleaning, and clean room sanitation services; and waste management and pest control services.