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

Rare Element Resources Ltd. (OTCMKTS:REEMF) was the recipient of a large increase in short interest in January. As of January 15th, there was short interest totaling 349,705 shares, an increase of 19,524.3% from the December 31st total of 1,782 shares. Currently, 0.1% of the shares of the stock are sold short. Based on an average daily volume of 1,104,472 shares, the days-to-cover ratio is presently 0.3 days. Based on an average daily volume of 1,104,472 shares, the days-to-cover ratio is presently 0.3 days. Currently, 0.1% of the shares of the stock are sold short.

Rare Element Resources Price Performance

Rare Element Resources stock opened at $0.99 on Thursday. Rare Element Resources has a 12-month low of $0.52 and a 12-month high of $1.92. The stock has a market capitalization of $509.66 million, a P/E ratio of -98.75 and a beta of 0.98. The firm’s 50-day moving average is $0.89 and its two-hundred day moving average is $1.01.

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.