Primech Holdings Ltd. (NASDAQ:PMEC) Stock Short Interest Falls 84.3%

Primech Holdings Ltd. (NASDAQ:PMEC) was the recipient of a large decline in short interest in September. As of September 30th, there was short interest totaling 13,730 shares, a decline of 84.3% from the September 15th total of 87,674 shares. Approximately 0.0% of the company’s stock are short sold. Based on an average trading volume of 177,989 shares, the short-interest ratio is currently 0.1 days.

Analysts Set New Price Targets

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

Primech Trading Down 0.9%

Shares of PMEC stock traded down $0.00 during trading hours on Monday, hitting $0.57. 4,399 shares of the company were exchanged, compared to its average volume of 333,496. Primech has a one year low of $0.31 and a one year high of $2.44. The business’s 50-day simple moving average is $0.51 and its two-hundred day simple moving average is $0.61. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.36 and a current ratio of 1.36.

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

Primech Company Profile

Primech Holdings Limited (NASDAQ: PMEC) is a facilities services company that provides integrated building maintenance and support services. Through its operating subsidiaries, the company helps organizations manage the day-to-day upkeep, cleanliness and functionality of their properties.

Its services include janitorial and cleaning operations, facility maintenance, staffing and other related support activities. Primech serves a range of customers and facilities, including commercial properties, industrial sites and public-sector locations, offering services that can be delivered as part of an integrated facilities management program.

The company is primarily focused on the Israeli market.