Short Interest in Black Titan Corp (NASDAQ:BTTC) Rises By 3,080.8%

Black Titan Corp (NASDAQ:BTTC) was the target of a significant increase in short interest in the month of August. As of August 14th, there was short interest totaling 395,561 shares, an increase of 3,080.8% from the July 30th total of 12,436 shares. Currently, 3.7% of the company’s stock are short sold. Based on an average daily volume of 2,396,917 shares, the days-to-cover ratio is presently 0.2 days.

Black Titan Price Performance

Shares of NASDAQ BTTC opened at $0.52 on Wednesday. The company has a 50 day simple moving average of $0.76 and a two-hundred day simple moving average of $1.13. Black Titan has a fifty-two week low of $0.51 and a fifty-two week high of $39.00. The company has a market capitalization of $5.61 million, a price-to-earnings ratio of -0.18 and a beta of 1.23. 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 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.

Hedge Funds Weigh In On Black Titan

Several institutional investors and hedge funds have recently modified their holdings of the stock. Armistice Capital LLC purchased a new position in shares of Black Titan in the 4th quarter worth about $840,000. Marex Group plc purchased a new stake in Black Titan during the 4th quarter valued at about $84,000. HRT Financial LP bought a new stake in Black Titan during the 4th quarter valued at about $28,000. Finally, Renaissance Technologies LLC bought a new stake in Black Titan during the 4th quarter valued at about $26,000.

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.