Short Interest in Primech Holdings Ltd. (NASDAQ:PMEC) Drops By 31.3%

Primech Holdings Ltd. (NASDAQ:PMEC) saw a large decrease in short interest during the month of December. As of December 31st, there was short interest totaling 17,399 shares, a decrease of 31.3% from the December 15th total of 25,340 shares. Approximately 0.0% of the company’s stock are short sold. Based on an average daily trading volume, of 10,930 shares, the days-to-cover ratio is currently 1.6 days. Based on an average daily trading volume, of 10,930 shares, the days-to-cover ratio is currently 1.6 days. Approximately 0.0% of the company’s stock are short sold.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Primech in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Primech Stock Up 2.7%

Shares of NASDAQ:PMEC traded up $0.03 on Friday, reaching $0.98. 2,641 shares of the company’s stock were exchanged, compared to its average volume of 20,125. The business’s 50-day moving average is $1.02 and its two-hundred day moving average is $1.43. Primech has a fifty-two week low of $0.62 and a fifty-two week high of $2.44.

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.