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

Black Titan Corp (NASDAQ:BTTC) saw a large increase in short interest in 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. Based on an average daily volume of 2,396,917 shares, the short-interest ratio is presently 0.2 days. Currently, 3.7% of the company’s stock are short sold.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Armistice Capital LLC bought a new stake in shares of Black Titan in the 4th quarter valued at about $840,000. Marex Group plc bought a new position in Black Titan during the fourth quarter worth about $84,000. HRT Financial LP bought a new position in Black Titan during the fourth quarter worth about $28,000. Finally, Renaissance Technologies LLC acquired a new position in Black Titan during the fourth quarter worth approximately $26,000.

Black Titan Stock Down 7.9%

Shares of NASDAQ BTTC traded down $0.04 during trading hours on Tuesday, hitting $0.52. The company had a trading volume of 745,158 shares, compared to its average volume of 1,003,316. Black Titan has a 1-year low of $0.51 and a 1-year 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 firm’s 50 day moving average is $0.76 and its 200-day moving average is $1.13. The stock has a market capitalization of $5.61 million, a P/E ratio of -0.18 and a beta of 1.23.

Black Titan (NASDAQ:BTTC) last issued its 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 for 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.