Rare Element Resources Ltd. (OTCMKTS:REEMF) Short Interest Update

Rare Element Resources Ltd. (OTCMKTS:REEMF) was the target of a significant increase in short interest in January. As of January 30th, there was short interest totaling 1,727,926 shares, an increase of 394.1% from the January 15th total of 349,705 shares. Approximately 0.3% of the company’s shares are sold short. Based on an average trading volume of 1,076,820 shares, the short-interest ratio is presently 1.6 days. Based on an average trading volume of 1,076,820 shares, the short-interest ratio is presently 1.6 days. Approximately 0.3% of the company’s shares are sold short.

Rare Element Resources Trading Down 0.8%

Shares of OTCMKTS REEMF opened at $0.77 on Wednesday. Rare Element Resources has a 12 month low of $0.58 and a 12 month high of $1.92. The firm has a market capitalization of $395.08 million, a PE ratio of -76.55 and a beta of 1.07. The firm has a fifty day simple moving average of $0.86 and a two-hundred day simple moving average of $0.99.

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.