Short Interest in Primech Holdings Ltd. (NASDAQ:PMEC) Declines By 59.0%

Primech Holdings Ltd. (NASDAQ:PMEC) saw a significant decline in short interest in May. As of May 15th, there was short interest totaling 178,005 shares, a decline of 59.0% from the April 30th total of 434,574 shares. Approximately 0.5% of the shares of the stock are short sold. Based on an average daily volume of 77,347 shares, the days-to-cover ratio is presently 2.3 days.

Primech Stock Performance

Shares of NASDAQ PMEC traded up $0.04 during mid-day trading on Monday, hitting $0.74. The company had a trading volume of 34,830 shares, compared to its average volume of 375,040. Primech has a 12 month low of $0.52 and a 12 month high of $2.44. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.36. The firm’s 50 day simple moving average is $0.71 and its two-hundred day simple moving average is $0.84.

Primech (NASDAQ:PMEC) last issued its quarterly earnings results 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 Analyst Weigh In

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