Short Interest in Avalon Rare Metals Decreases By 2.2% (AVL)
Avalon Rare Metals (NYSE:AVL) saw a large decrease in short interest in the month of August. As of August 15th, there was short interest totalling 3,334,575 shares, a decrease of 2.2% from the July 31st total of 3,408,409 shares, ARN reports. Currently, 2.7% of the shares of the company are sold short. Based on an average trading volume of 128,710 shares, the days-to-cover ratio is presently 25.9 days.
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 0.4196 on Thursday. Avalon Rare Metals has a 52 week low of $0.40 and a 52 week high of $1.07. The stock has a 50-day moving average of $0.43 and a 200-day moving average of $0.52. The company’s market cap is $53.0 million.
Avalon Rare Metals Inc (NYSE:AVL) is a Canada-based mineral exploration and development company.
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