Black Titan Corp (NASDAQ:BTTC) Sees Significant Decline in Short Interest

Black Titan Corp (NASDAQ:BTTC) saw a significant drop in short interest in the month of May. As of May 29th, there was short interest totaling 4,312 shares, a drop of 82.4% from the May 14th total of 24,499 shares. Based on an average daily volume of 33,269 shares, the days-to-cover ratio is currently 0.1 days. Approximately 0.0% of the shares of the company are sold short.

Institutional Inflows and Outflows

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

Black Titan Price Performance

Shares of BTTC opened at $0.90 on Wednesday. Black Titan has a 12 month low of $0.86 and a 12 month high of $39.00. The stock’s 50 day simple moving average is $1.24. The company has a market capitalization of $9.69 million, a PE ratio of -0.31 and a beta of 1.20.

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.