Is Primega Group Holdings Ltd (NASDAQ: PGHL) Still A Hot Buy?

Primega Group Holdings Ltd (NASDAQ:PGHL) traded at $1.14 at close of the session on Tuesday, December 17 and made a downward move of -10.94% on its previous day’s price.

Looking at the stock we see that its previous close was $1.28 with the day’s price range being $1.11 – $1.22. The company has a trailing 12-month PE ratio of 23.27. In terms of its 52-week price range, PGHL has a high of $107.36 and a low of $1.03. The company’s stock has lost about -89.08% over that past 30 days.

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Primega Group Holdings Ltd has a market cap of $27.36 million and is expected to release its quarterly earnings report in January.

Looking further, we note the current price level is -87.53% off its SMA20 and -90.27% from its 50-day simple moving average. The RSI (14) is pointing at 45.54 while the volatility over the past week is 12.40% and jumps to 90.11% over the past one month.

Coming back to Primega Group Holdings Ltd (NASDAQ:PGHL), we note that the average 3-month trading volume was 2.23 million, while that of the preceding 10-day period stands at 3.99 million. Current shares outstanding are 24.00 million.

The insiders hold 74.30% of the company’s shares. The data shows that short shares as of 2024-11-29, stood at 0.27 million at a short ratio of 0.07. This represents a 434.00 short interest in shares outstanding on 2024-11-29. Shares short rose in November from the previous month at 0.14 million. Investors should be excited about this stock as its upside potential is great, with current price pushing the stock -72.99% down in year-to-date price movement.

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