First Phosphate (NASDAQ:PHOS – Get Free Report) was the target of a significant 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 volume of 43,148 shares, the short-interest ratio is currently 0.1 days.
First Phosphate Trading Up 1.4%
PHOS traded up $0.23 during trading on Friday, reaching $16.15. The stock had a trading volume of 15,092 shares, compared to its average volume of 48,505. First Phosphate has a one year low of $12.82 and a one year high of $21.30.
Analysts Set New Price Targets
Several research analysts have commented on the stock. Zacks Research raised shares of First Phosphate to a “hold” rating in a research note on Friday, September 18th. Wall Street Zen upgraded First Phosphate to a “hold” rating in a report on Saturday. 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 equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold”.
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.
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