C3is Inc. (NASDAQ:CISS – Get Free Report) 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 volume of 79,613,822 shares, the days-to-cover ratio is currently 0.0 days. Approximately 1,377.5% of the company’s shares are short sold.
C3is Stock Performance
Shares of CISS traded down $0.39 during midday trading on Friday, hitting $1.74. 1,098,569 shares of the stock were exchanged, compared to its average volume of 370,769. C3is has a 52-week low of $1.74 and a 52-week high of $33,263.44. The stock has a fifty day simple moving average of $36.45 and a 200 day simple moving average of $163.18. The firm has a market cap of $69,600.00, a P/E ratio of -0.00 and a beta of 1.51.
Wall Street Analyst Weigh In
A number of analysts recently issued reports on the company. Wall Street Zen raised C3is from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Weiss Ratings reaffirmed a “sell (d)” rating on shares of C3is in a research note on Wednesday, August 5th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has an average rating of “Sell”.
Hedge Funds Weigh In On C3is
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Citadel Advisors LLC purchased a new position in C3is during the 3rd quarter valued at about $29,000. Wexford Capital LP increased its stake in C3is by 460.1% during the third 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 shares of C3is during the fourth quarter worth about $198,000. 10.54% of the stock is currently owned by hedge funds and other institutional investors.
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.
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