Primech (NASDAQ:PMEC) Trading Up 2% – Still a Buy?

Primech Holdings Ltd. (NASDAQ:PMEC)’s stock price traded up 2% during mid-day trading on Tuesday . The stock traded as high as $1.03 and last traded at $1.03. 3,962 shares changed hands during trading, a decline of 98% from the average session volume of 193,250 shares. The stock had previously closed at $1.01.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Primech in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Primech has a consensus rating of “Sell”.

Primech Stock Up 2.0%

The business’s 50 day moving average is $1.43 and its two-hundred day moving average is $1.47. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.39 and a current ratio of 1.39.

Institutional Inflows and Outflows

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