Rare Element Resources Ltd. (OTCMKTS:REEMF) Short Interest Up 23,416.1% in August

Rare Element Resources Ltd. (OTCMKTS:REEMF) was the recipient of a large increase in short interest in the month of August. As of August 14th, there was short interest totaling 367,322 shares, an increase of 23,416.1% from the July 30th total of 1,562 shares. Based on an average trading volume of 3,118,846 shares, the short-interest ratio is currently 0.1 days. Currently, 0.1% of the shares of the company are sold short.

Rare Element Resources Trading Down 3.8%

Shares of REEMF stock traded down $0.05 during mid-day trading on Tuesday, reaching $1.28. The stock had a trading volume of 2,745,735 shares, compared to its average volume of 530,917. Rare Element Resources has a 1-year low of $0.37 and a 1-year high of $2.00. The business’s fifty day moving average is $0.57 and its 200-day moving average is $0.64. The firm has a market cap of $660.62 million, a price-to-earnings ratio of -128.00 and a beta of 0.88.

About Rare Element Resources

Rare Element Resources is a U.S.-based exploration and development company focused on rare earth element deposits. The company’s flagship asset is the Bear Lodge project in northeastern Wyoming, which hosts both light and heavy rare earth oxides such as neodymium, praseodymium and dysprosium. Rare Element Resources is working to advance this project through feasibility, permitting and eventual commercial production to establish a domestic supply of critical minerals.

Incorporated in the mid-2000s and headquartered in Highlands Ranch, Colorado, Rare Element Resources has conducted extensive drilling, metallurgical test work and engineering studies to refine its processing technology.