First Phosphate (NASDAQ:PHOS) Stock Short Interest Declines 48.1%

First Phosphate (NASDAQ:PHOS) was the target of a significant decrease in short interest during the month of October. As of October 15th, there was short interest totaling 7,901 shares, a decrease of 48.1% from the September 30th total of 15,230 shares. Currently, 0.0% of the shares of the company are short sold. Based on an average daily trading volume, of 32,500 shares, the short-interest ratio is currently 0.2 days.

First Phosphate Stock Down 3.9%

PHOS traded down $0.49 during trading on Friday, reaching $12.19. 18,830 shares of the stock traded hands, compared to its average volume of 31,146. First Phosphate has a 12 month low of $10.97 and a 12 month high of $21.30.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on PHOS shares. Noble Financial upgraded shares of First Phosphate to a “strong-buy” rating in a research note on Thursday, September 17th. Weiss Ratings assumed coverage on First Phosphate in a research report on Wednesday, September 16th. They issued a “sell (e+)” rating for the company. Zacks Research upgraded First Phosphate to a “hold” rating in a research note on Friday, September 18th. Finally, Wall Street Zen raised shares of First Phosphate to a “hold” rating in a research report on Saturday, September 26th. One 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 data from MarketBeat.com, the stock presently has an average rating of “Hold”.

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.