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 in 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. Approximately 0.2% of the shares of the company are short sold. Based on an average daily volume of 24,418 shares, the days-to-cover ratio is currently 3.9 days.

Wall Street Analysts Forecast Growth

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

Primech Stock Down 8.3%

NASDAQ PMEC traded down $0.06 on Friday, hitting $0.64. The company had a trading volume of 60,194 shares, compared to its average volume of 65,229. The company’s fifty day moving average price is $0.71 and its 200-day moving average price is $0.82. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.32 and a quick ratio of 1.32. Primech has a 12-month low of $0.52 and a 12-month high of $2.44.

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

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.