Primech Holdings Ltd. (NASDAQ:PMEC) Sees Significant Growth in Short Interest

Primech Holdings Ltd. (NASDAQ:PMEC) was the recipient of a large growth in short interest in the month of January. As of January 15th, there was short interest totaling 52,993 shares, a growth of 204.6% from the December 31st total of 17,399 shares. Based on an average daily volume of 29,752 shares, the short-interest ratio is presently 1.8 days. Currently, 0.1% of the company’s stock are sold short. Currently, 0.1% of the company’s stock are sold short. Based on an average daily volume of 29,752 shares, the short-interest ratio is presently 1.8 days.

Primech Price Performance

PMEC stock opened at $0.98 on Friday. Primech has a one year low of $0.66 and a one year high of $2.44. The firm has a 50-day simple moving average of $1.01 and a two-hundred day simple moving average of $1.40.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Primech in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently 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.