Basanite, Inc. (OTCMKTS:BASA) Short Interest Up 247.9% in January

Basanite, Inc. (OTCMKTS:BASA) saw a significant increase in short interest in the month of January. As of January 15th, there was short interest totalling 40,700 shares, an increase of 247.9% from the December 31st total of 11,700 shares. Based on an average daily trading volume, of 394,500 shares, the days-to-cover ratio is currently 0.1 days.

Basanite Stock Down 1.2 %

Basanite stock traded down $0.00 during trading on Tuesday, reaching $0.05. 85,200 shares of the company’s stock were exchanged, compared to its average volume of 183,565. Basanite has a 52-week low of $0.00 and a 52-week high of $0.09. The company’s 50-day moving average is $0.06 and its two-hundred day moving average is $0.04.

Basanite Company Profile

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.