Black Titan Corp (NASDAQ:BTTC) Sees Significant Decrease in Short Interest

Black Titan Corp (NASDAQ:BTTC) was the recipient of a significant decrease in short interest in the month of May. As of May 29th, there was short interest totaling 4,312 shares, a decrease of 82.4% from the May 14th total of 24,499 shares. Currently, 0.0% of the shares of the company are sold short. Based on an average daily volume of 33,269 shares, the days-to-cover ratio is currently 0.1 days.

Black Titan Price Performance

Shares of NASDAQ:BTTC traded down $0.04 during trading on Thursday, reaching $1.01. The stock had a trading volume of 63,635 shares, compared to its average volume of 746,775. The firm’s fifty day moving average is $1.23. Black Titan has a 52 week low of $0.86 and a 52 week high of $39.00. The stock has a market capitalization of $10.88 million, a price-to-earnings ratio of -0.34 and a beta of 1.20.

Institutional Investors Weigh In On Black Titan

Hedge funds have recently bought and sold shares of the company. Renaissance Technologies LLC bought a new stake in Black Titan in the 4th quarter valued at $26,000. HRT Financial LP acquired a new stake in shares of Black Titan during the 4th quarter valued at about $28,000. Marex Group plc bought a new stake in Black Titan in the fourth quarter valued at about $84,000. Finally, Armistice Capital LLC bought a new stake in Black Titan in the fourth quarter valued at about $840,000.

About Black Titan

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.