C3is Inc. (NASDAQ:CISS) Sees Significant Decline in Short Interest

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

C3is Stock Down 0.7%

NASDAQ CISS traded down $0.01 during mid-day trading on Friday, hitting $1.44. The stock had a trading volume of 158,181 shares, compared to its average volume of 370,426. C3is has a 52-week low of $1.32 and a 52-week high of $33,263.44. The company has a market cap of $2.15 million, a price-to-earnings ratio of 0.00 and a beta of 1.41. The company has a 50 day simple moving average of $22.31 and a 200 day simple moving average of $129.98.

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

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of C3is in a report on Wednesday, August 5th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has an average rating of “Sell”.

Institutional Investors Weigh In On C3is

Several institutional investors and hedge funds have recently made changes to their positions in CISS. Citadel Advisors LLC purchased a new position in C3is during the 3rd quarter valued at about $29,000. Wexford Capital LP lifted its holdings in shares of 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 purchasing an additional 92,014 shares in the last quarter. Finally, L1 Global Manager Pty Ltd acquired a new stake in shares of C3is in the fourth quarter valued at approximately $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.