Short Interest in Black Titan Corp (NASDAQ:BTTC) Rises By 3,138.9%

Black Titan Corp (NASDAQ:BTTC) was the recipient of a large increase in short interest in June. As of June 30th, there was short interest totaling 77,733 shares, an increase of 3,138.9% from the June 15th total of 2,400 shares. Based on an average daily trading volume, of 905,542 shares, the short-interest ratio is currently 0.1 days. Approximately 1.6% of the shares of the company are sold short.

Institutional Investors Weigh In On Black Titan

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

Black Titan Trading Down 5.8%

NASDAQ BTTC traded down $0.05 on Friday, reaching $0.76. 15,047 shares of the stock were exchanged, compared to its average volume of 481,150. 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 one year low of $0.68 and a one year high of $39.00. The firm has a market cap of $8.14 million, a price-to-earnings ratio of -0.26 and a beta of 1.21. The firm’s 50-day moving average price is $0.97.

Black Titan (NASDAQ:BTTC) last announced its quarterly earnings data 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.

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.