Short Interest in Primech Holdings Ltd. (NASDAQ:PMEC) Drops By 47.1%

Primech Holdings Ltd. (NASDAQ:PMEC) was the recipient of a large decline in short interest during the month of May. As of May 29th, there was short interest totaling 94,138 shares, a decline of 47.1% from the May 14th total of 178,005 shares. Currently, 0.2% of the company’s shares are sold short. Based on an average trading volume of 24,418 shares, the days-to-cover ratio is presently 3.9 days.

Primech Stock Performance

Shares of NASDAQ PMEC traded down $0.06 during midday trading on Friday, reaching $0.64. 60,194 shares of the stock were exchanged, compared to its average volume of 65,229. The company has a 50 day simple moving average of $0.71 and a 200 day simple moving average of $0.82. 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 has a twelve month low of $0.52 and a twelve month high of $2.44.

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

Analysts Set New Price Targets

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