Short Interest in Primech Holdings Ltd. (NASDAQ:PMEC) Declines By 70.6%

Primech Holdings Ltd. (NASDAQ:PMEC) was the recipient of a large drop in short interest in 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. Currently, 0.1% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

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 research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Primech has an average rating of “Sell”.

Primech Trading Up 0.4%

Shares of NASDAQ:PMEC opened at $0.43 on Thursday. Primech has a one year low of $0.31 and a one year high of $2.44. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.36 and a quick ratio of 1.36. The firm has a 50 day simple moving average of $0.58 and a 200 day simple moving average of $0.68.

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

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.