Short Interest in Primech Holdings Ltd. (NASDAQ:PMEC) Declines By 57.6%

Primech Holdings Ltd. (NASDAQ:PMEC) was the recipient of a large drop in short interest in the month of August. As of August 31st, there was short interest totaling 16,344 shares, a drop of 57.6% from the August 15th total of 38,520 shares. Approximately 0.0% of the company’s shares are short sold. Based on an average daily volume of 22,436 shares, the short-interest ratio is currently 0.7 days.

Primech Trading Up 5.0%

Shares of PMEC stock traded up $0.02 during midday trading on Tuesday, hitting $0.51. The company had a trading volume of 64,094 shares, compared to its average volume of 249,968. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.56. The company’s 50 day simple moving average is $0.49 and its 200 day simple moving average is $0.63. Primech has a 52-week low of $0.31 and a 52-week high of $2.44.

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

Wall Street Analyst Weigh In

Separately, Weiss Ratings cut Primech from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, August 14th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company has a consensus rating of “Sell”.

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.