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

Primech Holdings Ltd. (NASDAQ:PMEC) saw a large decline in short interest during the month of 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. Based on an average daily volume of 77,347 shares, the days-to-cover ratio is presently 2.3 days. Currently, 0.5% of the company’s stock are sold short.

Wall Street Analyst Weigh In

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

Primech Price Performance

PMEC stock remained flat at $0.70 during midday trading on Friday. The company’s stock had a trading volume of 25,063 shares, compared to its average volume of 53,007. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.36. Primech has a 52 week low of $0.52 and a 52 week high of $2.44. The business has a 50-day moving average of $0.71 and a 200 day moving average of $0.84.

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