Avalon Rare Metals Inc. (OTCMKTS:AVLNF) Sees Significant Increase in Short Interest

Avalon Rare Metals Inc. (OTCMKTS:AVLNF) was the recipient of a significant growth in short interest in the month of August. As of August 31st, there was short interest totaling 6,048 shares, a growth of 342.1% from the August 15th total of 1,368 shares. Approximately 0.1% of the shares of the company are short sold. Based on an average daily volume of 23,377 shares, the days-to-cover ratio is currently 0.3 days.

Wall Street Analyst Weigh In

Separately, Zacks Research upgraded shares of Avalon Rare Metals to a “hold” rating in a research note on Friday, June 12th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has a consensus rating of “Hold”.

Avalon Rare Metals Price Performance

Avalon Rare Metals stock opened at $5.58 on Friday. Avalon Rare Metals has a one year low of $3.25 and a one year high of $25.20. The business has a fifty day moving average price of $6.06 and a 200-day moving average price of $7.74. The firm has a market capitalization of $25.90 million, a P/E ratio of -0.05 and a beta of 0.66.

Avalon Rare Metals (OTCMKTS:AVLNF) last announced its quarterly earnings results on Friday, July 10th. The company reported ($117.00) earnings per share for the quarter. Avalon Rare Metals had a negative net margin of 9,575.14% and a negative return on equity of 7.08%. The company had revenue of $0.05 million during the quarter, compared to analysts’ expectations of $0.05 million. Sell-side analysts expect that Avalon Rare Metals will post -3.81 earnings per share for the current fiscal year.

About Avalon Rare Metals

Avalon Rare Metals (OTCMKTS:AVLNF) is a Canada-based mineral exploration and development company focused on the discovery and advancement of rare metals, with an emphasis on rare earth elements critical to high-tech and green energy applications. The company’s flagship project is the Nechalacho Rare Earth Elements Deposit, located approximately 100 kilometers southeast of Yellowknife in Canada’s Northwest Territories. This project is recognized for its high concentrations of key light rare earth elements such as neodymium and praseodymium, which are essential in the manufacture of permanent magnets, electric vehicles and wind turbines.

The company’s primary business activities encompass detailed exploration, resource definition drilling, metallurgical testing and environmental baseline studies.