Primech Holdings Ltd. (NASDAQ:PMEC) Shares Shorted: Short Interest Down 89.8% in October

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

Wall Street Analyst Weigh In

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

Primech Trading Down 10.1%

Shares of Primech stock traded down $0.03 on Thursday, hitting $0.29. 25,217 shares of the company traded hands, compared to its average volume of 305,418. The stock’s 50 day moving average price is $0.47 and its 200-day moving average price 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 has a 52 week low of $0.26 and a 52 week high of $1.37.

Primech Company Profile

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.