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

Basanite, Inc. (OTCMKTS:BASA) was the recipient of a significant decline in short interest during the month of March. As of March 15th, there was short interest totalling 600 shares, a decline of 92.6% from the February 28th total of 8,100 shares. Based on an average daily volume of 396,700 shares, the short-interest ratio is presently 0.0 days.

Basanite Stock Performance

Shares of OTCMKTS BASA traded down $0.00 during trading hours on Friday, reaching $0.05. 23,246 shares of the stock traded hands, compared to its average volume of 150,749. The company’s 50-day simple moving average is $0.04 and its two-hundred day simple moving average is $0.05. Basanite has a 52-week low of $0.00 and a 52-week high of $0.09.

About Basanite

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.