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

Primech Holdings Ltd. (NASDAQ:PMEC) was the recipient of a large decrease in short interest in June. As of June 15th, there was short interest totaling 56,439 shares, a decrease of 40.0% from the May 31st total of 94,138 shares. Based on an average daily trading volume, of 96,613 shares, the days-to-cover ratio is currently 0.6 days. Currently, 0.1% of the shares of the stock are short sold.

Primech Stock Performance

NASDAQ:PMEC opened at $0.64 on Friday. Primech has a 12-month low of $0.50 and a 12-month high of $2.44. The company’s 50-day moving average is $0.70 and its two-hundred day moving average is $0.78.

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

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated 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, the company has a consensus rating of “Sell”.

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.