Primech Holdings Ltd. (NASDAQ:PMEC) Short Interest Update

Primech Holdings Ltd. (NASDAQ:PMEC) was the target of a significant decrease in short interest in the month of September. As of September 15th, there was short interest totaling 98,700 shares, a decrease of 41.9% from the August 31st total of 169,800 shares. Based on an average trading volume of 103,600 shares, the days-to-cover ratio is currently 1.0 days. Currently, 1.5% of the company’s stock are sold short. Currently, 1.5% of the company’s stock are sold short. Based on an average trading volume of 103,600 shares, the days-to-cover ratio is currently 1.0 days.

Hedge Funds Weigh In On Primech

An institutional investor recently raised its position in Primech stock. XTX Topco Ltd boosted its holdings in Primech Holdings Ltd. (NASDAQ:PMEC) by 123.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 39,960 shares of the company’s stock after buying an additional 22,104 shares during the quarter. XTX Topco Ltd owned approximately 0.10% of Primech worth $31,000 at the end of the most recent quarter. Institutional investors and hedge funds own 88.06% of the company’s stock.

Primech Trading Up 1.7%

NASDAQ:PMEC opened at $1.79 on Friday. The business’s fifty day moving average price is $1.66 and its 200 day moving average price is $1.32. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.39 and a quick ratio of 1.39. Primech has a 12 month low of $0.54 and a 12 month high of $1.89.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Primech in a research report on Saturday, September 27th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock has a consensus rating of “Sell”.

Primech Company Profile

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.