C3is Inc. (NASDAQ:CISS) Sees Large Increase in Short Interest

C3is Inc. (NASDAQ:CISS) saw a large growth in short interest during the month of April. As of April 30th, there was short interest totaling 84,980 shares, a growth of 699.4% from the April 15th total of 10,631 shares. Based on an average daily volume of 76,760 shares, the short-interest ratio is presently 1.1 days. Currently, 58.2% of the company’s shares are sold short.

C3is Stock Performance

NASDAQ CISS opened at $3.23 on Thursday. C3is has a one year low of $2.70 and a one year high of $831.59. The company’s 50 day moving average price is $5.68 and its 200 day moving average price is $72.45. The firm has a market capitalization of $484,500.00, a price-to-earnings ratio of 0.00 and a beta of 1.39.

C3is (NASDAQ:CISS) last posted its quarterly earnings results on Friday, February 20th. The company reported ($34.02) EPS for the quarter. C3is had a net margin of 30.13% and a return on equity of 2.38%. The business had revenue of $10.55 million during the quarter.

Analyst Ratings Changes

Several equities research analysts have issued reports on CISS shares. Wall Street Zen raised shares of C3is from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. Weiss Ratings reaffirmed a “sell (d)” rating on shares of C3is in a research note on Friday, May 8th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has an average rating of “Sell”.

Institutional Trading of C3is

Large investors have recently bought and sold shares of the company. Wexford Capital LP grew its position in C3is by 460.1% in the third quarter. Wexford Capital LP now owns 112,014 shares of the company’s stock valued at $240,000 after acquiring an additional 92,014 shares in the last quarter. Citadel Advisors LLC acquired a new stake in C3is in the third quarter valued at approximately $29,000. Finally, L1 Global Manager Pty Ltd acquired a new stake in C3is in the fourth quarter valued at approximately $198,000. Institutional investors and hedge funds own 10.54% of the company’s stock.

About C3is

C3is Inc offers international seaborne transportation services. It provides its services to dry bulk charterers, including national and private industrial users, commodity producers and traders, oil producers, refineries, and commodities traders and producers. The company owns and operates a fleet of two drybulk carriers, which transport major bulks, such as iron ore, coal and grains, as well as minor bulks comprising bauxite, phosphate, and fertilizers, and one Aframax crude oil tanker that transports crude oil.