Primech Holdings Ltd. (NASDAQ:PMEC) Short Interest Update

Primech Holdings Ltd. (NASDAQ:PMEC) was the recipient of a significant increase in short interest during the month of September. As of September 15th, there was short interest totaling 87,674 shares, an increase of 436.4% from the August 31st total of 16,344 shares. Based on an average trading volume of 461,686 shares, the days-to-cover ratio is currently 0.2 days. Approximately 0.2% of the company’s shares are short sold.

Primech Stock Performance

PMEC traded up $0.00 during mid-day trading on Friday, hitting $0.61. The stock had a trading volume of 7,914 shares, compared to its average volume of 337,712. The stock’s fifty day simple moving average is $0.49 and its 200-day simple moving average is $0.62. Primech has a 1-year low of $0.31 and a 1-year high of $2.44. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.56.

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

Analyst Ratings Changes

Separately, Weiss Ratings cut shares of Primech from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, August 14th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has an average rating of “Sell”.

About Primech

Primech Holdings Limited (NASDAQ: PMEC) is a facilities services company based in Japan. Through its operating subsidiaries, the company provides integrated property and building management services designed to support the day-to-day operation, cleanliness, safety and functionality of customer facilities.

Primech’s services include commercial and industrial cleaning, building and equipment maintenance, security-related services, and other facility support activities. Its offerings are intended to help customers manage routine operations and maintain their properties without having to perform these functions entirely in-house.

The company serves a range of properties and organizations in Japan, including commercial buildings, hotels, hospitals, educational institutions and public facilities.