Primech (NASDAQ:PMEC) Shares Down 2.2% – Here’s Why

Primech Holdings Ltd. (NASDAQ:PMEC) was down 2.2% during trading on Wednesday . The stock traded as low as $0.40 and last traded at $0.45. Approximately 20,263 shares were traded during trading, a decline of 89% from the average daily volume of 188,217 shares. The stock had previously closed at $0.46.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded Primech from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, July 30th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has an average rating of “Sell”.

Primech Price Performance

The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.36 and a current ratio of 1.36. The business has a fifty day simple moving average of $0.60 and a 200 day simple moving average of $0.70.

Primech (NASDAQ:PMEC) last posted its earnings results on Wednesday, July 29th. The company reported ($0.02) earnings per share for the quarter. The firm had revenue of $19.97 million during the quarter.

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.