Primech Holdings Ltd. (NASDAQ:PMEC) Sees Large Decrease in Short Interest

Primech Holdings Ltd. (NASDAQ:PMEC) saw a large decline in short interest in the month of May. As of May 15th, there was short interest totaling 178,005 shares, a decline of 59.0% from the April 30th total of 434,574 shares. Based on an average trading volume of 77,347 shares, the days-to-cover ratio is presently 2.3 days. Approximately 0.5% of the shares of the company are sold short.

Primech Stock Up 6.7%

PMEC traded up $0.05 during trading on Tuesday, hitting $0.75. The stock had a trading volume of 45,201 shares, compared to its average volume of 52,226. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.32 and a current ratio of 1.32. The company has a 50 day moving average price of $0.71 and a 200-day moving average price of $0.84. Primech has a one year low of $0.52 and a one year high of $2.44.

Primech (NASDAQ:PMEC) last announced its quarterly earnings data on Monday, March 30th. The company reported ($0.02) earnings per share for the quarter. The business had revenue of $19.03 million during the quarter.

Analyst Ratings Changes

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

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.