Primech Holdings Ltd. (NASDAQ:PMEC) Shares Shorted: Short Interest Down 84.3% in September

Primech Holdings Ltd. (NASDAQ:PMEC) was the recipient of a significant decrease in short interest during the month of September. As of September 30th, there was short interest totaling 13,730 shares, a decrease of 84.3% from the September 15th total of 87,674 shares. Based on an average trading volume of 177,989 shares, the short-interest ratio is currently 0.1 days. Approximately 0.0% of the company’s shares are short sold.

Primech Stock Up 6.3%

Shares of NASDAQ PMEC opened at $0.57 on Friday. The business has a 50-day moving average of $0.51 and a two-hundred day moving average of $0.61. Primech has a 1 year low of $0.31 and a 1 year 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.

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

Wall Street Analyst Weigh In

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

About Primech

Primech Holdings Limited (NASDAQ: PMEC) is a facilities services company that provides integrated building maintenance and support services. Through its operating subsidiaries, the company helps organizations manage the day-to-day upkeep, cleanliness and functionality of their properties.

Its services include janitorial and cleaning operations, facility maintenance, staffing and other related support activities. Primech serves a range of customers and facilities, including commercial properties, industrial sites and public-sector locations, offering services that can be delivered as part of an integrated facilities management program.

The company is primarily focused on the Israeli market.