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

Basanite, Inc. (OTCMKTS:BASA) was the recipient of a large increase in short interest in the month of April. As of April 15th, there was short interest totalling 17,200 shares, an increase of 100.0% from the March 31st total of 8,600 shares. Based on an average trading volume of 182,400 shares, the days-to-cover ratio is currently 0.1 days.

Basanite Stock Performance

OTCMKTS BASA remained flat at $0.01 on Friday. 30,905 shares of the company’s stock traded hands, compared to its average volume of 117,994. Basanite has a 1 year low of $0.00 and a 1 year high of $0.08. The stock’s fifty day simple moving average is $0.01 and its 200-day simple moving average is $0.02.

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.