C3is Inc. (NASDAQ:CISS) Short Interest Up 699.4% in April

C3is Inc. (NASDAQ:CISS) saw a significant growth in short interest in the month of April. As of April 30th, there was short interest totaling 84,980 shares, a growth of 699.4% from the April 15th total of 10,631 shares. Based on an average daily volume of 76,760 shares, the days-to-cover ratio is presently 1.1 days. Currently, 58.2% of the company’s stock are sold short.

C3is Price Performance

Shares of NASDAQ:CISS remained flat at $3.32 during trading on Tuesday. The company had a trading volume of 8,994 shares, compared to its average volume of 381,207. The stock has a market capitalization of $498,000.00, a P/E ratio of 0.00 and a beta of 1.39. C3is has a fifty-two week low of $2.70 and a fifty-two week high of $831.59. The firm’s fifty day simple moving average is $5.98 and its 200-day simple moving average is $76.65.

C3is (NASDAQ:CISS) last issued its quarterly earnings data on Friday, February 20th. The company reported ($34.02) earnings per share for the quarter. The business had revenue of $10.55 million for the quarter. C3is had a net margin of 30.13% and a return on equity of 2.38%.

Institutional Trading of C3is

Several institutional investors have recently added to or reduced their stakes in CISS. L1 Global Manager Pty Ltd bought a new stake in shares of C3is in the 4th quarter worth about $198,000. Wexford Capital LP grew 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 purchasing an additional 92,014 shares in the last quarter. Finally, Citadel Advisors LLC bought a new stake in C3is in the third quarter valued at about $29,000. 10.54% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CISS has been the subject of a number of recent research reports. Wall Street Zen upgraded C3is from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. Weiss Ratings reaffirmed a “sell (d)” rating on shares of C3is in a research report on Friday. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has a consensus rating of “Sell”.

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.