Short Interest in Rare Element Resources Ltd. (OTCMKTS:REEMF) Expands By 413.7%

Rare Element Resources Ltd. (OTCMKTS:REEMF) was the target of a significant growth in short interest in the month of August. As of August 31st, there was short interest totaling 1,886,779 shares, a growth of 413.7% from the August 15th total of 367,322 shares. Approximately 0.4% of the company’s shares are sold short. Based on an average daily trading volume, of 6,266,227 shares, the short-interest ratio is presently 0.3 days.

Rare Element Resources Stock Performance

Shares of OTCMKTS REEMF opened at $0.91 on Friday. The firm has a market cap of $469.66 million, a P/E ratio of -91.00 and a beta of 1.06. Rare Element Resources has a 1 year low of $0.37 and a 1 year high of $2.00. The firm’s 50 day moving average price is $0.72 and its 200 day moving average price is $0.67.

Rare Element Resources Company Profile

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.