C3is Inc. (NASDAQ:CISS) Short Interest Down 56.4% in June

C3is Inc. (NASDAQ:CISS) saw a large decline in short interest in the month of June. As of June 30th, there was short interest totaling 36,007 shares, a decline of 56.4% from the June 15th total of 82,532 shares. Approximately 6.7% of the shares of the company are short sold. Based on an average daily trading volume, of 157,075 shares, the short-interest ratio is currently 0.2 days.

C3is Stock Down 0.9%

NASDAQ CISS traded down $0.01 during trading hours on Tuesday, hitting $1.59. The company’s stock had a trading volume of 405,949 shares, compared to its average volume of 580,843. C3is has a twelve month low of $1.54 and a twelve month high of $831.59. The firm has a market capitalization of $861,300.00, a P/E ratio of -0.00 and a beta of 1.28. The stock has a fifty day moving average of $2.31 and a 200 day moving average of $9.03.

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

Institutional Trading of C3is

A number of institutional investors and hedge funds have recently modified their holdings of CISS. L1 Global Manager Pty Ltd bought a new position in C3is during the 4th quarter worth approximately $198,000. Wexford Capital LP increased its stake in 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, Citadel Advisors LLC acquired a new stake in C3is in the third quarter worth $29,000. 10.54% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CISS has been the subject of several research reports. Weiss Ratings reiterated a “sell (d)” rating on shares of C3is in a research note on Friday, May 8th. Wall Street Zen raised shares of C3is from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently 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.