First Phosphate (NASDAQ:PHOS) Sees Significant Decrease in Short Interest

First Phosphate (NASDAQ:PHOS) was the target of a large drop in short interest in September. As of September 15th, there was short interest totaling 4,896 shares, a drop of 81.4% from the August 31st total of 26,305 shares. Based on an average daily trading volume, of 43,148 shares, the days-to-cover ratio is currently 0.1 days.

Analyst Ratings Changes

Several analysts have commented on PHOS shares. Weiss Ratings assumed coverage on shares of First Phosphate in a research note on Wednesday, September 16th. They issued a “sell (e+)” rating on the stock. Noble Financial upgraded First Phosphate to a “strong-buy” rating in a research report on Thursday, September 17th. Wall Street Zen raised First Phosphate to a “hold” rating in a report on Saturday. Finally, Zacks Research raised First Phosphate to a “hold” rating in a research note on Friday, September 18th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold”.

First Phosphate Stock Up 1.4%

Shares of NASDAQ:PHOS traded up $0.23 during trading on Friday, reaching $16.15. The company’s stock had a trading volume of 15,092 shares, compared to its average volume of 48,505. First Phosphate has a 12 month low of $12.82 and a 12 month high of $21.30.

About First Phosphate

First Phosphate Corp. is a Canadian mineral development company focused on building an integrated supply chain for lithium iron phosphate (LFP) batteries. The company’s activities include the exploration and development of phosphate mineral properties, the production of purified phosphoric acid and phosphoric salts, and the eventual manufacture of LFP cathode active material for use in lithium-ion batteries.

First Phosphate’s mineral projects are located in Quebec’s Saguenay–Lac-Saint-Jean region, an area with established hydroelectric power, transportation infrastructure and industrial resources.