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

Primech Holdings Ltd. (NASDAQ:PMEC) was the recipient of a large increase in short interest during the month of June. As of June 30th, there was short interest totaling 121,573 shares, an increase of 115.4% from the June 15th total of 56,439 shares. Based on an average trading volume of 1,369,141 shares, the days-to-cover ratio is currently 0.1 days. Approximately 0.3% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Primech in a research note on Monday, May 4th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock has a consensus rating of “Sell”.

Primech Stock Up 3.7%

Shares of NASDAQ PMEC traded up $0.02 during midday trading on Thursday, hitting $0.55. The stock had a trading volume of 8,029 shares, compared to its average volume of 402,102. Primech has a fifty-two week low of $0.50 and a fifty-two week high of $2.44. The company’s 50-day simple moving average is $0.70 and its 200 day simple moving average is $0.76.

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.