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

Primech Holdings Ltd. (NASDAQ:PMEC) was the recipient of a significant growth in short interest in September. As of September 15th, there was short interest totaling 87,674 shares, a growth of 436.4% from the August 31st total of 16,344 shares. Based on an average daily volume of 461,686 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.2% of the company’s stock are sold short.

Primech Trading Up 2.6%

Primech stock opened at $0.61 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.36 and a quick ratio of 1.36. Primech has a fifty-two week low of $0.31 and a fifty-two week high of $2.44. The firm has a fifty day moving average price of $0.49 and a two-hundred day moving average price of $0.62.

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

Wall Street Analyst Weigh In

Separately, Weiss Ratings downgraded 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 stock presently has a consensus rating of “Sell”.

Primech Company Profile

Primech Holdings Limited (NASDAQ: PMEC) is a facilities services company based in Japan. Through its operating subsidiaries, the company provides integrated property and building management services designed to support the day-to-day operation, cleanliness, safety and functionality of customer facilities.

Primech’s services include commercial and industrial cleaning, building and equipment maintenance, security-related services, and other facility support activities. Its offerings are intended to help customers manage routine operations and maintain their properties without having to perform these functions entirely in-house.

The company serves a range of properties and organizations in Japan, including commercial buildings, hotels, hospitals, educational institutions and public facilities.