Is Buying ALKANE RESOURCES LTD. ORDINARY SHARES A (OTCMKTS:ALKEF), Having Higher Short Interest a Winning Strategy?

June 17, 2018 - By Nellie Frank

Alkane Resources Limited (OTCMKTS:ALKEF) Logo

The stock of ALKANE RESOURCES LTD. ORDINARY SHARES A (OTCMKTS:ALKEF) registered an increase of 7.23% in short interest. ALKEF’s total short interest was 46,000 shares in June as published by FINRA. Its up 7.23% from 42,900 shares, reported previously. With 13,300 shares average volume, it will take short sellers 4 days to cover their ALKEF’s short positions. The short interest to ALKANE RESOURCES LTD. ORDINARY SHARES A’s float is 0.01%.

It closed at $0.19 lastly. It is down 0.00% since June 17, 2017 and is . It has underperformed by 12.57% the S&P500.

Alkane Resources Limited operates as a multi-commodity mining and exploration firm in the Central West of New South Wales in eastern Australia. The company has market cap of $96.85 million. It explores for gold, copper, zirconium, hafnium, niobium, tantalum, yttrium, and rare earth elements. It has a 10.56 P/E ratio. The firm owns interest in the Tomingley Gold project and the Dubbo Zirconia project located in New South Wales.

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