Primech (NASDAQ:PMEC) Shares Up 1.1% - What's Next?

Key Points

• Primech Holdings Ltd. (NASDAQ:PMEC) shares increased by 1.1% during trading, reaching a last trade price of $1.82.
• The company's recent debt-to-equity ratio is 0.37, indicating relatively low leverage, with a current ratio and quick ratio both at 1.39.
• A hedge fund, XTX Topco Ltd, raised its stake in Primech by 123.8% in the first quarter, owning approximately 88.06% of the stock post-investment.

Primech Holdings Ltd. (NASDAQ:PMEC - ) shares shot up 1.1% during trading on Wednesday . The company traded as high as $1.86 and last traded at $1.82. 10,630 shares changed hands during mid-day trading, a decline of 66% from the average session volume of 31,609 shares. The stock had previously closed at $1.80.

Primech Price Performance

The company has a debt-to-equity ratio of 0.37, a current ratio of 1.39 and a quick ratio of 1.39. The business has a 50-day simple moving average of $1.65 and a 200 day simple moving average of $1.30.

Institutional Trading of Primech

A hedge fund recently raised its stake in Primech stock. XTX Topco Ltd increased its holdings in shares of Primech Holdings Ltd. (NASDAQ:PMEC - Free Report) by 123.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,960 shares of the company's stock after purchasing an additional 22,104 shares during the quarter. XTX Topco Ltd owned approximately 0.10% of Primech worth $31,000 at the end of the most recent reporting period. 88.06% of the stock is owned by hedge funds and other institutional investors.

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.

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