Primech Holdings Ltd. (NASDAQ:PMEC) Sees Large Drop in Short Interest

Primech Holdings Ltd. (NASDAQ:PMEC) was the target of a significant drop in short interest in August. As of August 31st, there was short interest totaling 16,344 shares, a drop of 57.6% from the August 15th total of 38,520 shares. Currently, 0.0% of the shares of the stock are sold short. Based on an average daily volume of 22,436 shares, the days-to-cover ratio is currently 0.7 days.

Analyst Ratings Changes

Separately, Weiss Ratings cut shares of Primech from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, August 14th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has an average rating of “Sell”.

Primech Trading Down 2.3%

NASDAQ PMEC traded down $0.01 during trading hours on Monday, reaching $0.48. 74,828 shares of the stock traded hands, compared to its average volume of 358,307. The stock has a 50 day simple moving average of $0.50 and a two-hundred day simple moving average of $0.63. Primech has a 1 year low of $0.31 and a 1 year high of $2.44. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.56.

Primech (NASDAQ:PMEC) last posted 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.

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.