Black Titan Corp (NASDAQ:BTTC) Short Interest Down 94.5% in August

Black Titan Corp (NASDAQ:BTTC) was the recipient of a large decrease in short interest in the month of August. As of August 31st, there was short interest totaling 21,671 shares, a decrease of 94.5% from the August 15th total of 395,561 shares. Based on an average daily volume of 3,966,225 shares, the short-interest ratio is currently 0.0 days. Approximately 0.4% of the shares of the company are sold short.

Black Titan Stock Performance

BTTC stock traded down $0.01 during midday trading on Friday, reaching $0.36. 44,954 shares of the company’s stock traded hands, compared to its average volume of 948,195. The company has a current ratio of 4.62, a quick ratio of 4.62 and a debt-to-equity ratio of 0.06. Black Titan has a 52-week low of $0.35 and a 52-week high of $39.00. The stock has a market cap of $3.88 million, a P/E ratio of -0.12 and a beta of 1.17. The stock’s 50-day moving average is $0.67 and its 200 day moving average is $1.02.

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 Trading of Black Titan

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

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.