Primech Holdings Ltd. (NASDAQ:PMEC) Short Interest Update

Key Points

• Primech Holdings Ltd. (NASDAQ:PMEC) experienced a significant 30.3% decrease in short interest, with 34,900 shares sold short as of August 15th, down from 50,100 shares at the end of July.
• The company's stock is currently trading at $1.80, with a fifty-two week range from a low of $0.54 to a high of $1.83, indicating potential for growth.
• Institutional investors, including XTX Topco Ltd, now hold 88.06% of Primech's stock, with XTX increasing its position by 123.8% in the first quarter.

Primech Holdings Ltd. (NASDAQ:PMEC - Get Free Report) saw a large decrease in short interest in the month of August. As of August 15th, there was short interest totaling 34,900 shares, a decrease of 30.3% from the July 31st total of 50,100 shares. Based on an average daily volume of 101,100 shares, the days-to-cover ratio is currently 0.3 days. Approximately 0.5% of the company's stock are sold short. Approximately 0.5% of the company's stock are sold short. Based on an average daily volume of 101,100 shares, the days-to-cover ratio is currently 0.3 days.

Primech Trading Down 1.3%

Shares of PMEC traded down $0.03 during mid-day trading on Tuesday, hitting $1.85. The company's stock had a trading volume of 56,251 shares, compared to its average volume of 241,816. The firm has a 50-day simple moving average of $1.55 and a 200 day simple moving average of $1.18. Primech has a 1-year low of $0.54 and a 1-year high of $1.89. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 0.37.

Institutional Trading of Primech

A hedge fund recently raised its stake in Primech stock. XTX Topco Ltd lifted its stake in Primech Holdings Ltd. (NASDAQ:PMEC - Free Report) by 123.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 39,960 shares of the company's stock after acquiring an additional 22,104 shares during the quarter. XTX Topco Ltd owned approximately 0.10% of Primech worth $31,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors own 88.06% of the company's stock.

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.