Black Titan (NASDAQ:BTTC) Trading Down 1.9% – Here’s Why

Shares of Black Titan Corp (NASDAQ:BTTC) were down 1.9% during mid-day trading on Thursday . The stock traded as low as $1.00 and last traded at $1.01. Approximately 23,890 shares were traded during mid-day trading, a decline of 13% from the average daily volume of 27,553 shares. The stock had previously closed at $1.03.

Black Titan Price Performance

The company has a market cap of $10.88 million, a PE ratio of -0.34 and a beta of 1.28. The firm’s 50-day simple moving average is $1.30.

Institutional Trading of Black Titan

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

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.