Short Interest in Basanite, Inc. (OTCMKTS:BASA) Declines By 74.9%

Basanite, Inc. (OTCMKTS:BASA) saw a large decrease in short interest during the month of January. As of January 31st, there was short interest totalling 13,200 shares, a decrease of 74.9% from the January 15th total of 52,600 shares. Based on an average daily volume of 232,600 shares, the days-to-cover ratio is currently 0.1 days.

Basanite Price Performance

OTCMKTS BASA traded down $0.00 during mid-day trading on Wednesday, reaching $0.05. The stock had a trading volume of 97,148 shares, compared to its average volume of 136,602. Basanite has a 1 year low of $0.00 and a 1 year high of $0.09. The company has a fifty day moving average price of $0.06 and a 200 day moving average price of $0.04.

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.