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

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

Wall Street Analyst Weigh In

A number of research firms have issued reports 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 reaffirmed a “sell (d)” rating on shares of C3is in a research note on Friday, May 8th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, C3is has an average rating of “Sell”.

Institutional Investors Weigh In On C3is

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Citadel Advisors LLC bought a new stake in C3is during the 3rd quarter worth about $29,000. Wexford Capital LP increased its position in shares of 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 acquiring an additional 92,014 shares during the last quarter. Finally, L1 Global Manager Pty Ltd acquired a new stake in shares of C3is in the fourth quarter valued at about $198,000. 10.54% of the stock is currently owned by institutional investors and hedge funds.

C3is Stock Performance

C3is stock traded down $0.01 during midday trading on Tuesday, reaching $1.59. The stock had a trading volume of 405,949 shares, compared to its average volume of 580,843. The stock has a market capitalization of $861,300.00, a P/E ratio of -0.00 and a beta of 1.28. The firm’s fifty day simple moving average is $2.31 and its 200-day simple moving average is $9.03. C3is has a 1-year low of $1.54 and a 1-year high of $831.59.

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

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.