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

First Phosphate (NASDAQ:PHOS) was the recipient of a large increase in short interest in the month of September. As of September 30th, there was short interest totaling 15,230 shares, an increase of 211.1% from the September 15th total of 4,896 shares. Based on an average trading volume of 36,426 shares, the short-interest ratio is currently 0.4 days. Currently, 0.1% of the shares of the company are sold short.

Wall Street Analyst Weigh In

Several analysts have weighed in on PHOS shares. Wall Street Zen upgraded First Phosphate to a “hold” rating in a research note on Saturday, September 26th. Zacks Research upgraded First Phosphate to a “hold” rating in a research note on Friday, September 18th. Weiss Ratings started coverage on First Phosphate in a report on Wednesday, September 16th. They set a “sell (e+)” rating for the company. Finally, Noble Financial upgraded First Phosphate to a “strong-buy” rating in a research report on Thursday, September 17th. One analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, First Phosphate currently has an average rating of “Hold”.

First Phosphate Trading Down 2.5%

Shares of NASDAQ:PHOS traded down $0.37 during midday trading on Tuesday, reaching $14.23. The company’s stock had a trading volume of 31,556 shares, compared to its average volume of 50,132. First Phosphate has a twelve month low of $12.82 and a twelve month high of $21.30.

First Phosphate Company Profile

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.