C3is Inc. (NASDAQ:CISS) Short Interest Up 56.0% in February

C3is Inc. (NASDAQ:CISS) was the recipient of a large increase in short interest during the month of February. As of February 13th, there was short interest totaling 271,959 shares, an increase of 56.0% from the January 29th total of 174,310 shares. Currently, 26.7% of the shares of the stock are sold short. Based on an average trading volume of 11,506,155 shares, the days-to-cover ratio is currently 0.0 days. Based on an average trading volume of 11,506,155 shares, the days-to-cover ratio is currently 0.0 days. Currently, 26.7% of the shares of the stock are sold short.

Institutional Trading of C3is

Several hedge funds have recently bought and sold shares of the stock. Wexford Capital LP increased its holdings in C3is by 460.1% in the 3rd quarter. Wexford Capital LP now owns 112,014 shares of the company’s stock worth $240,000 after acquiring an additional 92,014 shares in the last quarter. Citadel Advisors LLC bought a new position in shares of C3is in the third quarter worth approximately $29,000. Finally, L1 Global Manager Pty Ltd purchased a new stake in shares of C3is in the fourth quarter worth $198,000. Institutional investors own 10.54% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Wall Street Zen raised C3is to a “sell” rating in a report on Saturday, February 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of C3is in a research note on Monday, December 29th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, C3is has an average rating of “Sell”.

C3is Stock Performance

Shares of CISS opened at $1.54 on Tuesday. The company has a market cap of $1.57 million, a price-to-earnings ratio of -0.01 and a beta of 1.90. The business’s fifty day simple moving average is $2.68 and its two-hundred day simple moving average is $27.72. C3is has a 12 month low of $1.35 and a 12 month high of $118.80.

C3is (NASDAQ:CISS) last posted its earnings results on Thursday, February 19th. The company reported ($4.86) earnings per share (EPS) for the quarter. C3is had a net margin of 30.13% and a return on equity of 2.38%.

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.