Rio2 Limited (OTCMKTS:RIOFF) Sees Significant Increase in Short Interest

Rio2 Limited (OTCMKTS:RIOFF) was the recipient of a large increase in short interest in the month of January. As of January 30th, there was short interest totaling 2,017,380 shares, an increase of 29.5% from the January 15th total of 1,557,910 shares. Based on an average daily volume of 2,488,248 shares, the short-interest ratio is presently 0.8 days. Based on an average daily volume of 2,488,248 shares, the short-interest ratio is presently 0.8 days.

Wall Street Analysts Forecast Growth

Separately, Cantor Fitzgerald upgraded Rio2 from a “hold” rating to a “buy” rating in a research report on Monday, January 26th. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Rio2 currently has a consensus rating of “Buy”.

Rio2 Trading Down 5.5%

Shares of Rio2 stock opened at C$2.30 on Wednesday. Rio2 has a 1 year low of C$0.47 and a 1 year high of C$3.02. The company has a 50 day simple moving average of C$2.41 and a two-hundred day simple moving average of C$1.77.

About Rio2

Rio2 Ltd. (OTCMKTS: RIOFF) is a Canada-based mineral exploration and development company focused on advancing gold assets in Ecuador. Headquartered in Vancouver, British Columbia, Rio2’s primary objective is the development of its flagship Fenix Gold Project, a large-scale gold deposit located in the eastern portion of the country. The company’s activities span exploration, feasibility studies, and permitting, with an emphasis on moving the project toward production while maintaining compliance with local regulatory frameworks.

The Fenix Gold Project holds significant gold mineralization within multiple vein and stockwork zones hosted in volcanic and sedimentary units.