Primech Holdings Ltd. (NASDAQ:PMEC) Sees Significant Growth in Short Interest

Primech Holdings Ltd. (NASDAQ:PMEC) was the target of a significant increase in short interest in June. As of June 30th, there was short interest totaling 121,573 shares, an increase of 115.4% from the June 15th total of 56,439 shares. Currently, 0.3% of the company’s stock are short sold. Based on an average daily volume of 1,369,141 shares, the short-interest ratio is presently 0.1 days.

Primech Trading Up 3.7%

Shares of Primech stock opened at $0.55 on Friday. Primech has a 12-month low of $0.50 and a 12-month high of $2.44. The business’s 50 day moving average is $0.69 and its 200-day moving average is $0.75.

Analysts Set New Price Targets

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

About Primech

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.