Short Interest in Black Titan Corp (NASDAQ:BTTC) Declines By 35.7%

Black Titan Corp (NASDAQ:BTTC) was the target of a large drop in short interest during the month of July. As of July 15th, there was short interest totaling 49,987 shares, a drop of 35.7% from the June 30th total of 77,733 shares. Based on an average daily trading volume, of 74,298 shares, the days-to-cover ratio is presently 0.7 days. Currently, 1.0% of the company’s stock are short sold.

Black Titan Stock Performance

NASDAQ BTTC traded down $0.02 during trading on Friday, hitting $0.67. The stock had a trading volume of 7,354 shares, compared to its average volume of 645,271. The firm has a market cap of $7.23 million, a P/E ratio of -0.23 and a beta of 1.21. The company has a 50-day moving average price of $0.86. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.62 and a quick ratio of 4.62. Black Titan has a 12 month low of $0.64 and a 12 month high of $39.00.

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

Institutional Inflows and Outflows

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

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.