Black Titan Corp (NASDAQ:BTTC) Short Interest Down 35.7% in July

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

Black Titan Stock Down 2.7%

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

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

Institutional Inflows and Outflows

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

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.