Primech Holdings Ltd. (NASDAQ:PMEC) Short Interest Up 723.1% in April

Primech Holdings Ltd. (NASDAQ:PMEC) was the target of a significant increase in short interest in the month of April. As of April 30th, there was short interest totaling 434,574 shares, an increase of 723.1% from the April 15th total of 52,795 shares. Approximately 1.1% of the company’s shares are sold short. Based on an average daily volume of 2,687,717 shares, the short-interest ratio is currently 0.2 days.

Primech Stock Performance

Shares of PMEC opened at $0.78 on Thursday. Primech has a one year low of $0.52 and a one year high of $2.44. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.32 and a quick ratio of 1.32. The stock has a 50-day moving average price of $0.69 and a 200 day moving average price of $0.90.

Primech (NASDAQ:PMEC) last issued its quarterly earnings results on Monday, March 30th. The company reported ($0.02) EPS for the quarter. The company had revenue of $19.03 million during the quarter.

Wall Street Analyst Weigh In

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