Primech (NASDAQ:PMEC) Shares Down 7.1% – What’s Next?

Primech Holdings Ltd. (NASDAQ:PMEC) shares were down 7.1% during trading on Thursday . The stock traded as low as $0.4503 and last traded at $0.4505. Approximately 19,795 shares were traded during mid-day trading, a decline of 3% from the average session volume of 20,428 shares. The stock had previously closed at $0.4850.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings downgraded Primech from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, August 14th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Primech currently has an average rating of “Sell”.

Primech Price Performance

The business’s 50 day moving average price is $0.52 and its 200 day moving average price is $0.64. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.36 and a current ratio of 1.36.

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

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. 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.