Short Interest in Primech Holdings Ltd. (NASDAQ:PMEC) Drops By 40.0%

Primech Holdings Ltd. (NASDAQ:PMEC) saw a significant decrease in short interest during the month of June. As of June 15th, there was short interest totaling 56,439 shares, a decrease of 40.0% from the May 31st total of 94,138 shares. Approximately 0.1% of the shares of the stock are sold short. Based on an average daily volume of 96,613 shares, the short-interest ratio is currently 0.6 days.

Primech Stock Performance

PMEC traded up $0.01 during mid-day trading on Wednesday, reaching $0.65. The stock had a trading volume of 26,345 shares, compared to its average volume of 433,321. The firm’s fifty day simple moving average is $0.70 and its two-hundred day simple moving average is $0.79. Primech has a 52 week low of $0.50 and a 52 week high of $2.44. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.36.

Primech (NASDAQ:PMEC) last issued its quarterly earnings results on Monday, March 30th. The company reported ($0.02) earnings per share (EPS) for the quarter. The firm 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 report on Monday, May 4th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, Primech 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.