The trading price of Primech Holdings Ltd (NASDAQ:PMEC) closed lower on Thursday, March 29, closing at $1.29, -66.75% lower than its previous close.
In examining the 52-week price action we see that the stock hit a 52-week high of $4.18 and a 52-week low of $1.01. Over the past month, the stock has lost -54.74% in value.
Primech Holdings Ltd, whose market valuation is $45.86 million at the time of this writing. Investors’ optimism about the company’s current quarter earnings report is understandable.
A company’s earnings reviews provide a brief indication of a stock’s direction in the short term, where in the case of Primech Holdings Ltd No upward and no downward comments were posted in the last 7 days.
A quick review shows that PMEC’s price is currently -57.63% off the SMA20 and -47.95% off the SMA50. The RSI metric on the 14-day chart is currently showing 31.49, and weekly volatility stands at 57.10%. When measured over the past 30 days, the indicator reaches 27.21%. Primech Holdings Ltd (NASDAQ:PMEC)’s beta value is currently sitting at 0, while the Average True Range indicator is currently displaying 0.63.
To see how Primech Holdings Ltd stock has been performing in comparison to its peers in the industry, here are the numbers: PMEC stock’s performance was -66.75% in the latest trading.
An evaluation of the daily trading volume of Primech Holdings Ltd (NASDAQ:PMEC) indicates that the 3-month average is 113.59K. However, this figure has increased over the past 10 days to an average of 1.5 million.
Currently, records show that 32.50 million of the company’s shares remain outstanding. The insiders hold 88.01% of outstanding shares, whereas institutions hold 0.05%. The stats also highlight that short interest as of Mar 15, 2024, stood at 41750.0 shares, resulting in a short ratio of 0.75 at that time. From this, we can conclude that short interest is 0.12% of the company’s total outstanding shares. It is noteworthy that short shares in March were down slightly from the previous month’s figure, which was 51300.0. However, since the stock’s price has seen -46.25% year-to-date, investors’ interest is likely to be reignited due to its potential to move even lower.
