C3is (NASDAQ:CISS) Stock Price Down 0.9% – Time to Sell?

Shares of C3is Inc. (NASDAQ:CISS) fell 0.9% during trading on Monday . The company traded as low as $2.07 and last traded at $2.12. 112,921 shares changed hands during mid-day trading, a decline of 94% from the average session volume of 1,885,698 shares. The stock had previously closed at $2.14.

Analysts Set New Price Targets

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

C3is Trading Down 0.4%

The stock’s fifty day moving average price is $3.77 and its 200-day moving average price is $34.70.

C3is (NASDAQ:CISS) last announced its quarterly earnings results on Tuesday, May 19th. The company reported $5.24 earnings per share (EPS) for the quarter. The business 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

Hedge funds and other institutional investors have recently made changes to their positions in the company. L1 Global Manager Pty Ltd acquired a new stake in shares of C3is during the 4th quarter worth approximately $198,000. Wexford Capital LP increased its holdings in shares of C3is by 460.1% during the 3rd quarter. Wexford Capital LP now owns 112,014 shares of the company’s stock worth $240,000 after buying an additional 92,014 shares during the last quarter. Finally, Citadel Advisors LLC acquired a new stake in shares of C3is during the 3rd quarter worth approximately $29,000. Institutional investors and hedge funds own 10.54% of the company’s stock.

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.