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

Primech Holdings Ltd. (NASDAQ:PMEC) saw a large drop in short interest in the month of February. As of February 27th, there was short interest totaling 34,902 shares, a drop of 23.8% from the February 12th total of 45,833 shares. Currently, 0.1% of the company’s shares are short sold. Based on an average daily trading volume, of 190,621 shares, the days-to-cover ratio is currently 0.2 days. Based on an average daily trading volume, of 190,621 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.1% of the company’s shares are short sold.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Primech in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Primech presently has an average rating of “Sell”.

Primech Price Performance

NASDAQ PMEC traded down $0.02 during trading hours on Friday, hitting $0.69. The company’s stock had a trading volume of 29,827 shares, compared to its average volume of 281,249. Primech has a 52 week low of $0.60 and a 52 week high of $2.44. The company’s 50-day simple moving average is $0.84 and its two-hundred day simple moving average is $1.24.

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.