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

Key Points

• Primech Holdings Ltd. (NASDAQ:PMEC) experienced a 41.9% decrease in short interest during September, with short interest totaling 98,700 shares.
• The stock currently has a consensus rating of "Sell" from analysts, with one rating specifically noted as "sell (d-)" by Weiss Ratings.
• Recently, institutional investor XTX Topco Ltd increased its stake in Primech by 123.8%, now holding 39,960 shares, representing 88.06% ownership by institutional investors.

Primech Holdings Ltd. (NASDAQ:PMEC - Get Free Report) was the recipient of a significant decrease in short interest during the month of September. As of September 15th, there was short interest totaling 98,700 shares, a decrease of 41.9% from the August 31st total of 169,800 shares. Based on an average trading volume of 103,600 shares, the short-interest ratio is currently 1.0 days. Approximately 1.5% of the company's shares are short sold. Approximately 1.5% of the company's shares are short sold. Based on an average trading volume of 103,600 shares, the short-interest ratio is currently 1.0 days.

Analyst Ratings Changes

Separately, Weiss Ratings restated a "sell (d-)" rating on shares of Primech in a research note on Saturday, September 27th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has a consensus rating of "Sell".

Primech Stock Up 1.7%

NASDAQ:PMEC opened at $1.79 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.39 and a current ratio of 1.39. The stock's fifty day moving average is $1.66 and its two-hundred day moving average is $1.32. Primech has a 52 week low of $0.54 and a 52 week high of $1.89.

Institutional Trading of Primech

An institutional investor recently raised its position in Primech stock. XTX Topco Ltd lifted its stake in shares of 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 firm owned 39,960 shares of the company's stock after acquiring an additional 22,104 shares during the quarter. XTX Topco Ltd owned 0.10% of Primech worth $31,000 as of its most recent filing with the Securities and Exchange Commission. 88.06% of the stock is currently owned by hedge funds and other institutional investors.

Primech Company Profile

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.

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