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

Primech Holdings Ltd. (NASDAQ:PMEC) was the recipient of a significant increase in short interest during 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. Based on an average trading volume of 263,043 shares, the short-interest ratio is presently 0.2 days. Approximately 0.2% of the shares of the company are sold short.

Primech Price Performance

Shares of NASDAQ PMEC traded down $0.02 during midday trading on Friday, reaching $0.69. 1,490 shares of the company traded hands, compared to its average volume of 110,327. Primech has a 52 week low of $0.60 and a 52 week high of $2.44. The stock has a 50-day moving average price of $0.78 and a 200 day moving average price of $1.18.

Wall Street Analyst Weigh In

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

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.