Basanite, Inc. (OTCMKTS:BASA) Sees Significant Drop in Short Interest

Basanite, Inc. (OTCMKTS:BASA) was the recipient of a significant decrease in short interest in May. As of May 15th, there was short interest totaling 2,849 shares, a decrease of 91.0% from the April 30th total of 31,534 shares. Based on an average trading volume of 106,876 shares, the days-to-cover ratio is presently 0.0 days.

Basanite Trading Down 9.3%

OTCMKTS:BASA opened at $0.02 on Thursday. The stock has a fifty day moving average price of $0.02 and a two-hundred day moving average price of $0.03. Basanite has a 1 year low of $0.01 and a 1 year high of $0.07.

About Basanite

Basanite, Inc engages in the basalt fiber reinforced polymer (FRP) business worldwide. It produces basalt FRP products that are used as replacement for other FRP rebar and industry fiber products, as wells as steel reinforcement. The company was formerly known as PayMeOn, Inc and changed its name to Basanite, Inc in December 2018. The company was founded in 2006 and is headquartered in Pompano Beach, Florida.