Primech Holdings Ltd. (NASDAQ:PMEC) Short Interest Down 21.0% in April

Primech Holdings Ltd. (NASDAQ:PMEC) was the recipient of a significant decline in short interest in April. As of April 15th, there was short interest totaling 52,795 shares, a decline of 21.0% from the March 31st total of 66,829 shares. Based on an average daily trading volume, of 51,486 shares, the days-to-cover ratio is presently 1.0 days. Approximately 0.1% of the shares of the stock are short sold.

Primech Price Performance

PMEC traded up $0.06 during trading on Thursday, reaching $0.65. 353,245 shares of the stock were exchanged, compared to its average volume of 457,426. The business’s 50 day moving average price is $0.69 and its two-hundred day moving average price is $0.99. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.36. Primech has a 1 year low of $0.52 and a 1 year high of $2.44.

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

Analyst Upgrades and Downgrades

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