Short Interest in Basanite, Inc. (OTCMKTS:BASA) Drops By 74.9%

Basanite, Inc. (OTCMKTS:BASA) saw a large drop in short interest during the month of January. As of January 31st, there was short interest totalling 13,200 shares, a drop of 74.9% from the January 15th total of 52,600 shares. Based on an average trading volume of 232,600 shares, the short-interest ratio is currently 0.1 days.

Basanite Stock Down 7.6 %

Basanite stock traded down $0.00 during trading hours on Thursday, hitting $0.05. 97,148 shares of the stock traded hands, compared to its average volume of 136,602. The firm’s 50 day moving average price is $0.06 and its 200-day moving average price is $0.04. Basanite has a 1 year low of $0.00 and a 1 year high of $0.09.

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.