Primech Holdings Ltd. (NASDAQ:PMEC) Short Interest Down 70.6% in July

Primech Holdings Ltd. (NASDAQ:PMEC) saw a large drop in short interest during the month of July. As of July 31st, there was short interest totaling 34,084 shares, a drop of 70.6% from the July 15th total of 115,977 shares. Based on an average daily trading volume, of 14,839 shares, the days-to-cover ratio is presently 2.3 days. Approximately 0.1% of the shares of the company are short sold.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised shares of Primech from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, July 30th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has an average rating of “Sell”.

Primech Trading Up 7.0%

Shares of PMEC traded up $0.03 during mid-day trading on Friday, reaching $0.48. The company had a trading volume of 55,164 shares, compared to its average volume of 187,110. Primech has a 52-week low of $0.31 and a 52-week high of $2.44. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.56. The stock has a 50 day moving average of $0.57 and a two-hundred day moving average of $0.68.

Primech (NASDAQ:PMEC) last posted its earnings results on Wednesday, July 29th. The company reported ($0.02) EPS for the quarter. The company 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.