Short Interest in Avalon Rare Metals Expands By 0.5% (AVL)
Avalon Rare Metals (NYSE:AVL) was the target of a significant growth in short interest during the month of July. As of July 31st, there was short interest totalling 3,408,409 shares, a growth of 0.5% from the July 15th total of 3,426,906 shares, American Banking & Market News reports. Based on an average daily volume of 151,089 shares, the days-to-cover ratio is currently 22.6 days. Approximately 2.7% of the company’s stock are short sold.
Separately, analysts at HC Wainwright initiated coverage on shares of Avalon Rare Metals in a research note on Thursday, July 17th. They set a “buy” rating and a $1.00 price target on the stock.
Avalon Rare Metals (NYSE:AVL) opened at 0.428 on Thursday. Avalon Rare Metals has a 52 week low of $0.42 and a 52 week high of $1.07. The stock’s 50-day moving average is $0.44 and its 200-day moving average is $0.53. The company’s market cap is $54.1 million.
Avalon Rare Metals Inc (NYSE:AVL) is a Canada-based mineral exploration and development company.
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