Rare Element Resources Ltd. (OTCMKTS:REEMF) Short Interest Up 23,416.1% in August

Rare Element Resources Ltd. (OTCMKTS:REEMF) saw a significant increase in short interest in the month of August. As of August 14th, there was short interest totaling 367,322 shares, an increase of 23,416.1% from the July 30th total of 1,562 shares. Currently, 0.1% of the company’s stock are short sold. Based on an average daily trading volume, of 3,118,846 shares, the short-interest ratio is currently 0.1 days.

Rare Element Resources Price Performance

OTCMKTS REEMF traded down $0.05 during midday trading on Tuesday, hitting $1.28. 2,745,735 shares of the company traded hands, compared to its average volume of 530,917. Rare Element Resources has a 52 week low of $0.37 and a 52 week high of $2.00. The company’s 50-day simple moving average is $0.57 and its 200-day simple moving average is $0.64. The company has a market cap of $660.62 million, a PE ratio of -128.00 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.