Rare Element CFO Acquires $10,500 in Stock (REE)
Rare Element (NYSE:REE) CFO Paul H. Zink acquired 10,000 shares of the company’s stock on the open market in a transaction that occurred on Thursday, August 28th. The shares were purchased at an average cost of $1.05 per share, with a total value of $10,500.00. Following the transaction, the chief financial officer now directly owns 25,000 shares in the company, valued at approximately $26,250. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link.
Shares of Rare Element (NYSE:REE) traded up 4.76% on Friday, hitting $1.10. The stock had a trading volume of 182,899 shares. Rare Element has a 52-week low of $1.02 and a 52-week high of $3.50. The stock has a 50-day moving average of $1.18 and a 200-day moving average of $1.35. The company’s market cap is $52.5 million. Rare Element also saw a significant decline in short interest during the month of August. As of August 15th, there was short interest totalling 771,303 shares, a decline of 6.8% from the July 31st total of 827,504 shares. Based on an average daily trading volume, of 123,725 shares, the short-interest ratio is presently 6.2 days. Approximately 1.7% of the company’s stock are short sold.
Rare Element Resources Ltd. (NYSE:REE) is engaged in the acquisition, exploration and development of mineral properties.
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