First Phosphate (NASDAQ:PHOS – Get Free Report) saw a large decline in short interest in October. As of October 15th, there was short interest totaling 7,901 shares, a decline of 48.1% from the September 30th total of 15,230 shares. Based on an average daily trading volume, of 32,500 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.0% of the shares of the stock are sold short.
First Phosphate Price Performance
Shares of PHOS traded down $0.94 during midday trading on Monday, hitting $11.30. 18,022 shares of the company traded hands, compared to its average volume of 31,845. First Phosphate has a 52 week low of $10.97 and a 52 week high of $21.30.
Wall Street Analyst Weigh In
Several brokerages recently weighed in on PHOS. Weiss Ratings initiated coverage on shares of First Phosphate in a report on Wednesday, September 16th. They issued a “sell (e+)” rating for the company. Zacks Research raised First Phosphate to a “hold” rating in a report on Friday, September 18th. Noble Financial upgraded First Phosphate to a “strong-buy” rating in a research report on Thursday, September 17th. Finally, Wall Street Zen upgraded First Phosphate to a “hold” rating in a research report on Saturday, September 26th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold”.
Get Our Latest Research Report on PHOS
About First Phosphate
First Phosphate Corp. is a Canadian mineral development company focused on advancing phosphate resources in Quebec, Canada. The company is working to develop an integrated supply chain for lithium iron phosphate (LFP) battery materials, which are used in certain lithium-ion batteries for electric vehicles, energy storage systems and other applications.
First Phosphate’s activities include the exploration and development of phosphate properties in the Saguenay–Lac-Saint-Jean region of Quebec, including its Bégin-Lamarche project.
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