C3is Inc. (NASDAQ:CISS) Short Interest Update

C3is Inc. (NASDAQ:CISS) saw a significant decline in short interest during the month of May. As of May 29th, there was short interest totaling 48,614 shares, a decline of 53.3% from the May 14th total of 104,053 shares. Based on an average trading volume of 3,292,520 shares, the days-to-cover ratio is currently 0.0 days. Approximately 9.0% of the company’s stock are sold short.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Citadel Advisors LLC purchased a new position in shares of C3is during the 3rd quarter worth about $29,000. Wexford Capital LP lifted 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 acquiring an additional 92,014 shares during the period. Finally, L1 Global Manager Pty Ltd purchased a new position in shares of C3is during the 4th quarter worth about $198,000. 10.54% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

C3is Stock Up 8.2%

Shares of C3is stock traded up $0.17 on Monday, hitting $2.25. The company’s stock had a trading volume of 456,731 shares, compared to its average volume of 655,399. C3is has a 52-week low of $1.90 and a 52-week high of $831.59. The firm has a fifty day moving average price of $3.62 and a 200-day moving average price of $31.59. The company has a market capitalization of $1.22 million, a P/E ratio of 0.00 and a beta of 1.27.

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

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.