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

Basanite Inc. (OTCMKTS:BASA) was the recipient of a large increase in short interest in May. As of May 28th, there was short interest totalling 7,400 shares, an increase of 7,300.0% from the May 13th total of 100 shares. Based on an average trading volume of 399,400 shares, the short-interest ratio is presently 0.0 days.

BASA stock traded down $0.01 on Friday, hitting $0.22. 379,824 shares of the company’s stock were exchanged, compared to its average volume of 309,271. Basanite has a 12-month low of $0.12 and a 12-month high of $1.12. The stock’s 50 day simple moving average is $0.26.

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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