Primech Holdings Ltd. (NASDAQ:PMEC) Short Interest Update

Primech Holdings Ltd. (NASDAQ:PMEC) was the recipient of a large drop in short interest during the month of July. As of July 31st, there was short interest totaling 34,084 shares, a drop of 70.6% from the July 15th total of 115,977 shares. Based on an average daily volume of 14,839 shares, the days-to-cover ratio is presently 2.3 days. Approximately 0.1% of the company’s shares are sold short.

Primech Stock Performance

Primech stock traded up $0.03 during trading hours on Friday, reaching $0.48. 55,164 shares of the company’s stock were exchanged, compared to its average volume of 187,110. The firm’s 50 day simple moving average is $0.57 and its 200 day simple moving average is $0.68. Primech has a twelve month low of $0.31 and a twelve month high of $2.44. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.36 and a current ratio of 1.36.

Primech (NASDAQ:PMEC) last announced its quarterly earnings data on Wednesday, July 29th. The company reported ($0.02) earnings per share (EPS) for the quarter. The firm had revenue of $19.97 million during the quarter.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised shares of Primech from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, July 30th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock has a consensus 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.