Black Titan Corp (NASDAQ:BTTC) Short Interest Update

Black Titan Corp (NASDAQ:BTTC) was the target of a large drop in short interest during the month of August. As of August 31st, there was short interest totaling 21,671 shares, a drop of 94.5% from the August 15th total of 395,561 shares. Currently, 0.4% of the shares of the company are sold short. Based on an average daily trading volume, of 3,966,225 shares, the short-interest ratio is currently 0.0 days.

Hedge Funds Weigh In On Black Titan

Institutional investors have recently made changes to their positions in the company. Renaissance Technologies LLC purchased a new stake in Black Titan during the fourth quarter worth $26,000. HRT Financial LP purchased a new position in Black Titan in the fourth quarter valued at $28,000. Marex Group plc purchased a new position in Black Titan in the fourth quarter valued at $84,000. Finally, Armistice Capital LLC acquired a new position in shares of Black Titan in the fourth quarter worth about $840,000.

Black Titan Stock Performance

Shares of BTTC traded down $0.02 during mid-day trading on Thursday, reaching $0.37. The company had a trading volume of 129,544 shares, compared to its average volume of 3,556,627. Black Titan has a 52-week low of $0.35 and a 52-week high of $39.00. 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 stock has a market capitalization of $3.95 million, a P/E ratio of -0.12 and a beta of 1.17. The stock has a 50 day moving average of $0.67 and a two-hundred day moving average of $1.02.

Black Titan (NASDAQ:BTTC) last announced its quarterly earnings results on Friday, June 12th. The company reported ($0.22) earnings per share for the quarter. The company had revenue of $0.59 million during the quarter.

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.