C3is Inc. (NASDAQ:CISS) Short Interest Update

C3is Inc. (NASDAQ:CISS) saw a significant decline in short interest in the month of August. As of August 14th, there was short interest totaling 551,009 shares, a decline of 80.8% from the July 30th total of 2,866,583 shares. Based on an average daily trading volume, of 79,613,822 shares, the days-to-cover ratio is currently 0.0 days. Currently, 1,377.5% of the company’s shares are short sold.

Analysts Set New Price Targets

CISS has been the subject of a number of recent analyst reports. Wall Street Zen upgraded shares of C3is from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. Weiss Ratings reissued a “sell (d)” rating on shares of C3is in a report on Wednesday, August 5th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has an average rating of “Sell”.

C3is Stock Performance

CISS opened at $2.91 on Wednesday. The stock has a market capitalization of $116,480.00, a PE ratio of -0.00 and a beta of 1.51. The stock’s 50 day moving average price is $39.89 and its 200-day moving average price is $170.66. C3is has a 52-week low of $2.24 and a 52-week high of $33,263.44.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. L1 Global Manager Pty Ltd purchased a new stake in shares of C3is in the 4th quarter worth about $198,000. Wexford Capital LP raised its stake in C3is by 460.1% in the third quarter. Wexford Capital LP now owns 112,014 shares of the company’s stock worth $240,000 after buying an additional 92,014 shares in the last quarter. Finally, Citadel Advisors LLC bought a new stake in C3is during the 3rd quarter valued at approximately $29,000. 10.54% of the stock is owned by hedge funds and other institutional investors.

C3is Company Profile

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.