Black Titan Corp (NASDAQ:BTTC) Short Interest Up 3,138.9% in June

Black Titan Corp (NASDAQ:BTTC) saw a significant increase in short interest in the month of 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 trading volume of 905,542 shares, the short-interest ratio is currently 0.1 days. Currently, 1.6% of the shares of the company are short sold.

Black Titan Price Performance

Shares of Black Titan stock traded down $0.05 on Friday, hitting $0.76. The stock had a trading volume of 15,047 shares, compared to its average volume of 481,150. 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 twelve month low of $0.68 and a twelve month high of $39.00. The company has a 50 day moving average price of $0.97.

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

Institutional Investors Weigh In On Black Titan

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