Primech Holdings Ltd. (NASDAQ:PMEC) Short Interest Up 115.4% in June

Primech Holdings Ltd. (NASDAQ:PMEC) was the target of a significant 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 daily volume of 1,369,141 shares, the short-interest ratio is currently 0.1 days. Approximately 0.3% of the shares of the company are short sold.

Primech Trading Down 6.7%

PMEC stock traded down $0.04 during trading on Wednesday, hitting $0.54. 61,636 shares of the company traded hands, compared to its average volume of 405,053. The company has a 50-day moving average of $0.70 and a 200-day moving average of $0.76. Primech has a 1 year low of $0.50 and a 1 year high of $2.44.

Wall Street Analysts Forecast Growth

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