Short Interest in C3is Inc. (NASDAQ:CISS) Increases By 69.8%

C3is Inc. (NASDAQ:CISS) was the recipient of a large growth in short interest in the month of June. As of June 15th, there was short interest totaling 82,532 shares, a growth of 69.8% from the May 31st total of 48,614 shares. Approximately 15.3% of the shares of the company are sold short. Based on an average trading volume of 779,824 shares, the short-interest ratio is currently 0.1 days.

C3is Stock Down 0.9%

Shares of C3is stock traded down $0.01 during trading on Thursday, reaching $1.72. The company’s stock had a trading volume of 224,139 shares, compared to its average volume of 607,638. The business has a 50 day moving average price of $2.65 and a 200-day moving average price of $10.71. C3is has a 12-month low of $1.54 and a 12-month high of $831.59. The company has a market capitalization of $926,100.00, a P/E ratio of -0.00 and a beta of 1.28.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. L1 Global Manager Pty Ltd purchased a new stake in shares of C3is during the 4th quarter worth approximately $198,000. Wexford Capital LP raised its holdings 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 last quarter. Finally, Citadel Advisors LLC purchased a new stake in C3is during the third quarter worth $29,000. 10.54% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently issued reports on CISS. Weiss Ratings reissued a “sell (d)” rating on shares of C3is in a report on Friday, May 8th. Wall Street Zen upgraded shares of C3is from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, C3is currently has an average 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.