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

C3is Inc. (NASDAQ:CISS) was the recipient of a significant increase in short interest in the month of July. As of July 15th, there was short interest totaling 60,980 shares, an increase of 69.4% from the June 30th total of 36,007 shares. Currently, 11.3% of the shares of the stock are sold short. Based on an average daily volume of 99,124 shares, the days-to-cover ratio is currently 0.6 days.

Institutional Investors Weigh In On C3is

A number of large investors have recently added to or reduced their stakes in CISS. L1 Global Manager Pty Ltd bought a new stake in C3is during the fourth quarter worth about $198,000. Wexford Capital LP increased its position in shares of C3is by 460.1% during the 3rd 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 during the last quarter. Finally, Citadel Advisors LLC bought a new position in shares of C3is during the 3rd quarter valued at about $29,000. Hedge funds and other institutional investors own 10.54% of the company’s stock.

C3is Price Performance

Shares of C3is stock opened at $0.12 on Friday. C3is has a 1 year low of $0.10 and a 1 year high of $831.59. The firm has a market cap of $64,260.00, a PE ratio of -0.00 and a beta of 1.28. The company has a 50 day simple moving average of $1.73 and a two-hundred day simple moving average of $6.21.

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

Analysts Set New Price Targets

Several equities research analysts recently issued reports on CISS shares. Weiss Ratings reissued a “sell (d)” rating on shares of C3is in a research note on Friday, May 8th. Wall Street Zen upgraded C3is from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, C3is has a consensus rating of “Sell”.

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.