Short Interest in Basanite, Inc. (OTCMKTS:BASA) Drops By 91.0%

Basanite, Inc. (OTCMKTS:BASA – Get Free Report) was the target of a large drop in short interest in the month of May. As of May 15th, there was short interest totaling 2,849 shares, a drop of 91.0% from the April 30th total of 31,534 shares. Based on an average daily trading volume, of 106,876 shares, the days-to-cover ratio is currently 0.0 days.

Basanite Trading Down 9.2%

OTCMKTS BASA opened at $0.02 on Friday. Basanite has a fifty-two week low of $0.01 and a fifty-two week high of $0.07. The stock has a 50 day simple moving average of $0.02 and a two-hundred day simple moving average of $0.03.

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About Basanite

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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.

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