Primech (NASDAQ:PMEC) Shares Down 4.5% – Here’s Why

Shares of Primech Holdings Ltd. (NASDAQ:PMEC) were down 4.5% during mid-day trading on Thursday . The company traded as low as $0.55 and last traded at $0.6497. Approximately 28,870,388 shares were traded during mid-day trading, an increase of 85,260% from the average daily volume of 33,822 shares. The stock had previously closed at $0.68.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Primech in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has a consensus rating of “Sell”.

Primech Trading Down 4.5%

The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.36. The stock has a fifty day moving average price of $0.70 and a two-hundred day moving average price of $1.02.

Primech (NASDAQ:PMEC) last issued its quarterly earnings data on Monday, March 30th. The company reported ($0.02) earnings per share (EPS) for the quarter. The company had revenue of $19.03 million during the quarter.

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. The company offers housekeeping services; specialized cleaning services, including marble polishing, building façade cleaning, and clean room sanitation services; and waste management and pest control services.