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

Primech Holdings Ltd. (NASDAQ:PMEC) was the target of a large increase in short interest in the month of July. As of July 31st, there was short interest totalling 624,700 shares, an increase of 1,489.6% from the July 15th total of 39,300 shares. Currently, 13.7% of the shares of the stock are sold short. Based on an average daily volume of 1,930,000 shares, the days-to-cover ratio is presently 0.3 days.

Primech Price Performance

Shares of PMEC stock traded down $0.02 during trading hours on Wednesday, reaching $0.69. The stock had a trading volume of 37,688 shares, compared to its average volume of 988,009. The stock’s fifty day simple moving average is $0.60 and its 200 day simple moving average is $1.23. Primech has a 12 month low of $0.49 and a 12 month high of $4.18.

Primech Company Profile

Primech Holdings Ltd. provides facilities and stewarding services in the public and private sectors in Singapore. Its facilities services include general cleaning and maintenance of public and private facilities, such as airports, conservancy areas, public areas, refuse disposal areas, and parks and carparks of public housing units; common areas of hotels, educational institutions, public roads, residential spaces, commercial buildings, office facilities, industrial areas, retail stores, and healthcare facilities; housekeeping services; specialized cleaning services, including marble polishing, building façade cleaning, and clean room sanitation services; and waste management and pest control services.