Short Interest in Primech Holdings Ltd. (NASDAQ:PMEC) Declines By 21.0%

Primech Holdings Ltd. (NASDAQ:PMEC) saw a large drop in short interest in April. As of April 15th, there was short interest totaling 52,795 shares, a drop of 21.0% from the March 31st total of 66,829 shares. Approximately 0.1% of the company’s stock are short sold. Based on an average trading volume of 51,486 shares, the days-to-cover ratio is currently 1.0 days.

Primech Price Performance

Shares of PMEC stock traded down $0.01 on Friday, reaching $0.64. The stock had a trading volume of 40,121 shares, compared to its average volume of 452,415. Primech has a 12 month low of $0.52 and a 12 month high of $2.44. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.36. The firm’s 50-day moving average is $0.69 and its two-hundred day moving average is $0.98.

Primech (NASDAQ:PMEC) last released its quarterly earnings data on Monday, March 30th. The company reported ($0.02) earnings per share (EPS) for the quarter. The firm had revenue of $19.03 million during the quarter.

Wall Street Analysts Forecast Growth

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