Basanite, Inc. (OTCMKTS:BASA) Sees Large Increase in Short Interest

Basanite, Inc. (OTCMKTS:BASA) was the recipient of a large increase in short interest during the month of January. As of January 15th, there was short interest totalling 40,700 shares, an increase of 247.9% from the December 31st total of 11,700 shares. Based on an average daily volume of 394,500 shares, the short-interest ratio is currently 0.1 days.

Basanite Price Performance

OTCMKTS BASA traded down $0.00 on Thursday, hitting $0.05. The stock had a trading volume of 68,883 shares, compared to its average volume of 177,193. Basanite has a one year low of $0.00 and a one year high of $0.09. The company’s 50-day moving average is $0.06 and its two-hundred day moving average is $0.04.

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.