Black Titan (NASDAQ:BTTC) Shares Up 1.4% – Still a Buy?

Shares of Black Titan Corp (NASDAQ:BTTC) shot up 1.4% on Monday . The stock traded as high as $1.49 and last traded at $1.44. 36,895 shares traded hands during mid-day trading, a decline of 49% from the average session volume of 72,877 shares. The stock had previously closed at $1.42.

Analysts Set New Price Targets

Separately, Weiss Ratings began coverage on Black Titan in a report on Monday, January 26th. They issued a “sell (e-)” rating for the company. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Sell”.

Black Titan Price Performance

The company’s fifty day moving average price is $1.50. The stock has a market cap of $14.39 million, a PE ratio of -0.49 and a beta of 1.39.

Black Titan (NASDAQ:BTTC) last posted its earnings results on Wednesday, February 18th. The company reported ($1.81) earnings per share (EPS) for the quarter.

Hedge Funds Weigh In On Black Titan

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Armistice Capital LLC purchased a new position in Black Titan in the fourth quarter valued at about $840,000. Marex Group plc purchased a new position in Black Titan in the fourth quarter valued at about $84,000. HRT Financial LP purchased a new position in Black Titan in the fourth quarter valued at about $28,000. Finally, Renaissance Technologies LLC purchased a new position in Black Titan in the fourth 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.