Short Interest in C3is Inc. (NASDAQ:CISS) Drops By 80.8%

C3is Inc. (NASDAQ:CISS) saw a large drop in short interest in the month of August. As of August 14th, there was short interest totaling 551,009 shares, a drop of 80.8% from the July 30th total of 2,866,583 shares. Currently, 1,377.5% of the company’s stock are short sold. Based on an average daily volume of 79,613,822 shares, the days-to-cover ratio is presently 0.0 days.

C3is Stock Performance

Shares of CISS opened at $2.91 on Wednesday. C3is has a fifty-two week low of $2.24 and a fifty-two week high of $33,263.44. The firm’s 50-day simple moving average is $39.89 and its two-hundred day simple moving average is $170.66. The stock has a market cap of $116,480.00, a PE ratio of -0.00 and a beta of 1.51.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CISS. Wall Street Zen raised C3is from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. Weiss Ratings reissued a “sell (d)” rating on shares of C3is in a research report on Wednesday, August 5th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, C3is currently has a consensus rating of “Sell”.

Institutional Trading of C3is

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Citadel Advisors LLC bought a new position in C3is during the 3rd quarter valued at approximately $29,000. L1 Global Manager Pty Ltd bought a new stake in C3is in the fourth quarter worth $198,000. Finally, Wexford Capital LP boosted its holdings 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 acquiring an additional 92,014 shares in the last quarter. Hedge funds and other institutional investors own 10.54% of the company’s stock.

C3is Company Profile

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.