Short Interest in Black Titan Corp (NASDAQ:BTTC) Grows By 3,080.8%

Black Titan Corp (NASDAQ:BTTC) was the target of a significant increase in short interest during the month of August. As of August 14th, there was short interest totaling 395,561 shares, an increase of 3,080.8% from the July 30th total of 12,436 shares. Currently, 3.7% of the company’s shares are sold short. Based on an average daily trading volume, of 2,396,917 shares, the short-interest ratio is presently 0.2 days.

Black Titan Trading Down 7.9%

BTTC stock traded down $0.04 during midday trading on Tuesday, reaching $0.52. The company’s stock had a trading volume of 745,158 shares, compared to its average volume of 1,003,316. Black Titan has a 52 week low of $0.51 and a 52 week high of $39.00. The stock has a market cap of $5.61 million, a PE ratio of -0.18 and a beta of 1.23. The company has a quick ratio of 4.62, a current ratio of 4.62 and a debt-to-equity ratio of 0.06. The business’s 50-day simple moving average is $0.76 and its 200-day simple moving average is $1.13.

Black Titan (NASDAQ:BTTC) last issued its earnings results on Friday, June 12th. The company reported ($0.22) EPS for the quarter. The business had revenue of $0.59 million for the quarter.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of BTTC. Armistice Capital LLC bought a new stake in shares of Black Titan in the 4th quarter valued at $840,000. Marex Group plc bought a new stake in Black Titan in the 4th quarter valued at approximately $84,000. HRT Financial LP bought a new position in Black Titan in the fourth quarter valued at $28,000. Finally, Renaissance Technologies LLC acquired a new stake in shares of Black Titan in the fourth quarter valued at about $26,000.

Black Titan Company Profile

Titan Pharmaceuticals, Inc is a biopharmaceutical company developingproprietary therapeutics for the treatment of central nervous system disorders, cancer, and other serious and life threatening diseases. In the central nervous system arena, the company is developing iloperidone, which is clinical testing for schizophrenia through a licensing and development agreement with Novartis Pharma AG. Novartis has tradenamed the product Zomaril.