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

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Basanite Inc (OTCMKTS:BASA) was the recipient of a significant decrease in short interest in August. As of August 31st, there was short interest totalling 31,200 shares, a decrease of 33.0% from the August 15th total of 46,600 shares. Based on an average daily volume of 163,000 shares, the short-interest ratio is currently 0.2 days.

OTCMKTS:BASA traded up $0.06 during trading hours on Wednesday, reaching $0.72. The company’s stock had a trading volume of 720,033 shares, compared to its average volume of 243,381. Basanite has a one year low of $0.08 and a one year high of $1.12. The business’s 50-day moving average is $0.38 and its 200-day moving average is $0.22.

About Basanite

Basanite, Inc engages in the basalt fiber reinforced polymer business worldwide. It produces basalt fiber reinforced polymer products that are used as replacements for steel products, which reinforce concrete, such as rebar. The company was formerly known as PayMeOn, Inc and changed its name to Basanite, Inc in December 2018.

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