Rare Element Resources Ltd. (OTCMKTS:REEMF) Sees Significant Increase in Short Interest

Rare Element Resources Ltd. (OTCMKTS:REEMF) saw a large growth in short interest in August. As of August 14th, there was short interest totaling 367,322 shares, a growth 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. Approximately 0.1% of the company’s stock are sold short.

Rare Element Resources Trading Down 6.8%

Shares of OTCMKTS:REEMF opened at $1.24 on Wednesday. Rare Element Resources has a 52 week low of $0.37 and a 52 week high of $2.00. The company’s 50 day moving average is $0.59 and its two-hundred day moving average is $0.65. The company has a market cap of $639.98 million, a PE ratio of -124.00 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.