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

Primech Holdings Ltd. (NASDAQ:PMEC) was the target of a significant drop in short interest in the month of November. As of November 15th, there was short interest totalling 130,200 shares, a drop of 20.3% from the October 31st total of 163,400 shares. Based on an average trading volume of 80,000 shares, the days-to-cover ratio is presently 1.6 days. Approximately 1.9% of the shares of the company are short sold.

Primech Stock Performance

Shares of NASDAQ PMEC traded down $0.02 during mid-day trading on Friday, reaching $0.73. 28,795 shares of the company’s stock were exchanged, compared to its average volume of 693,380. The firm has a 50-day moving average price of $0.74 and a two-hundred day moving average price of $0.66. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.50. Primech has a 52 week low of $0.49 and a 52 week high of $4.15.

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.