C3is Inc. (NASDAQ:CISS) Short Interest Down 83.0% in August

C3is Inc. (NASDAQ:CISS) was the target of a large drop in short interest in August. As of August 31st, there was short interest totaling 93,408 shares, a drop of 83.0% from the August 15th total of 551,009 shares. Approximately 6.3% of the company’s stock are short sold. Based on an average trading volume of 2,190,645 shares, the days-to-cover ratio is currently 0.0 days.

C3is Stock Performance

NASDAQ:CISS traded down $0.08 during mid-day trading on Friday, hitting $1.37. 253,755 shares of the company’s stock traded hands, compared to its average volume of 1,353,300. C3is has a twelve month low of $1.32 and a twelve month high of $33,263.44. The company has a market capitalization of $2.04 million, a P/E ratio of 0.00 and a beta of 1.41. The company has a fifty day moving average of $20.90 and a 200 day moving average of $129.08.

C3is (NASDAQ:CISS) last posted its quarterly earnings data on Thursday, August 27th. The company reported $345.57 earnings per share (EPS) for the quarter. C3is had a net margin of 41.33% and a return on equity of 14.94%. The firm had revenue of $48.09 million for the quarter.

Institutional Investors Weigh In On C3is

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

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (d)” rating on shares of C3is in a research note on Wednesday, August 5th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, C3is currently has an average rating of “Sell”.

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.