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

Basanite, Inc. (OTCMKTS:BASA) saw a significant decrease in short interest during the month of 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 daily volume of 106,876 shares, the short-interest ratio is presently 0.0 days.

Basanite Price Performance

Basanite stock opened at $0.02 on Thursday. Basanite has a fifty-two week low of $0.01 and a fifty-two week high of $0.07. The stock’s fifty day moving average is $0.02 and its two-hundred day moving average is $0.03.

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.