Primech's (PMEC) "Sell (D-)" Rating Reaffirmed at Weiss Ratings

Key Points

• Primech Holdings Ltd. (PMEC) has had its rating reaffirmed as "sell (D-)" by Weiss Ratings, indicating a negative outlook from analysts.
• The company's stock price recently decreased by 2.9% and currently fluctuates around $1.68, with a 52-week range between $0.54 and $1.89.
• XTX Topco Ltd. increased its stake in Primech by 123.8%, now owning approximately 0.10% of the company, with institutional investors collectively holding over 88% of shares.

Primech (NASDAQ:PMEC - Get Free Report)'s stock had its "sell (d-)" rating reissued by stock analysts at Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

Primech Trading Down 2.9%

PMEC opened at $1.68 on Wednesday. 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 business has a 50 day moving average of $1.67 and a 200-day moving average of $1.33. Primech has a 52 week low of $0.54 and a 52 week high of $1.89.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Primech stock. XTX Topco Ltd increased its position in Primech Holdings Ltd. (NASDAQ:PMEC - Free Report) by 123.8% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm 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 as of its most recent filing with the Securities & Exchange Commission. 88.06% of the stock is currently owned by 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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