Short Interest in C3is Inc. (NASDAQ:CISS) Declines By 56.4%

C3is Inc. (NASDAQ:CISS – Get Free Report) was the target of a significant drop in short interest in the month of June. As of June 30th, there was short interest totaling 36,007 shares, a drop of 56.4% from the June 15th total of 82,532 shares. Based on an average daily trading volume, of 157,075 shares, the short-interest ratio is currently 0.2 days. Approximately 6.7% of the shares of the company are short sold.

C3is Trading Up 6.0%

NASDAQ:CISS traded up $0.10 during mid-day trading on Thursday, hitting $1.78. The company’s stock had a trading volume of 47,428 shares, compared to its average volume of 573,471. The company has a market capitalization of $962,980.00, a price-to-earnings ratio of -0.00 and a beta of 1.28. C3is has a fifty-two week low of $1.50 and a fifty-two week high of $831.59. The stock has a fifty day moving average of $2.24 and a 200-day moving average of $8.63.

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C3is (NASDAQ:CISS – Get Free Report) last released its quarterly earnings data on Tuesday, May 19th. The company reported $5.24 earnings per share for the quarter. C3is had a return on equity of 6.78% and a net margin of 15.28%.The company had revenue of $23.15 million for the quarter.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Citadel Advisors LLC bought a new stake in shares of C3is in the 3rd quarter worth about $29,000. Wexford Capital LP boosted 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 buying an additional 92,014 shares in the last quarter. Finally, L1 Global Manager Pty Ltd bought a new stake in C3is during the fourth quarter worth about $198,000. 10.54% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have commented on CISS. Weiss Ratings reaffirmed a “sell (d)” rating on shares of C3is in a report on Friday, May 8th. Wall Street Zen upgraded C3is from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, C3is currently has a consensus rating of “Sell”.

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About C3is

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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.

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