Primech Holdings Ltd. (NASDAQ:PMEC) Sees Large Increase in Short Interest

Primech Holdings Ltd. (NASDAQ:PMEC) saw a significant increase in short interest in the month of March. As of March 13th, there was short interest totaling 65,420 shares, an increase of 87.4% from the February 26th total of 34,902 shares. Approximately 0.2% of the shares of the company are short sold. Based on an average daily trading volume, of 263,043 shares, the days-to-cover ratio is currently 0.2 days.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Primech in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has an average rating of “Sell”.

Primech Price Performance

NASDAQ PMEC traded up $0.01 on Thursday, hitting $0.71. 13,271 shares of the stock traded hands, compared to its average volume of 112,196. The business’s fifty day moving average is $0.79 and its two-hundred day moving average is $1.18. Primech has a 12 month low of $0.60 and a 12 month 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.