Primech Holdings Ltd. (NASDAQ:PMEC) Stock Short Interest Declines 89.8%

Primech Holdings Ltd. (NASDAQ:PMEC) was the target of a significant decrease in short interest during the month of October. As of October 30th, there was short interest totaling 1,119 shares, a decrease of 89.8% from the October 15th total of 10,972 shares. Approximately 0.0% of the company’s shares are short sold. Based on an average trading volume of 116,584 shares, the days-to-cover ratio is presently 0.0 days.

Primech Trading Down 0.6%

Shares of Primech stock traded down $0.00 on Friday, reaching $0.30. 10,487 shares of the company’s stock were exchanged, compared to its average volume of 304,064. Primech has a 52 week low of $0.26 and a 52 week high of $1.37. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.36 and a quick ratio of 1.36. The firm’s 50-day moving average is $0.47 and its two-hundred day moving average is $0.61.

Analysts Set New Price Targets

Separately, Weiss Ratings lowered Primech from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, October 29th. One research analyst has rated the stock with a Sell rating. According to data from MarketBeat, the stock has a consensus rating of “Sell”.

About Primech

Primech Holdings Limited is a Singapore-based provider of integrated facilities services. Through its operating subsidiaries, the company supports the day-to-day operation and upkeep of facilities for customers across the public and private sectors. Its services include general cleaning, housekeeping, stewarding, waste management, maintenance and related facilities-support activities. Primech serves a range of property types, including commercial buildings, hospitality venues, healthcare facilities, educational institutions and government-related premises.