Short Interest in Basanite, Inc. (OTCMKTS:BASA) Declines By 66.9%

Basanite, Inc. (OTCMKTS:BASA) was the target of a significant decrease in short interest in the month of July. As of July 15th, there was short interest totaling 19,531 shares, a decrease of 66.9% from the June 30th total of 58,988 shares. Based on an average daily volume of 94,893 shares, the short-interest ratio is presently 0.2 days.

Basanite Stock Performance

Shares of BASA opened at $0.02 on Friday. The stock’s fifty day moving average price is $0.02 and its two-hundred day moving average price is $0.03. Basanite has a 1 year low of $0.01 and a 1 year high of $0.07.

Basanite (OTCMKTS:BASA) last posted its quarterly earnings results on Sunday, June 28th. The company reported ($0.01) earnings per share for the quarter.

Basanite Company Profile

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.