Short Interest in C3is Inc. (NASDAQ:CISS) Increases By 69.8%

C3is Inc. (NASDAQ:CISS) was the recipient of a large increase in short interest during the month of June. As of June 15th, there was short interest totaling 82,532 shares, an increase of 69.8% from the May 31st total of 48,614 shares. Based on an average trading volume of 779,824 shares, the short-interest ratio is currently 0.1 days. Currently, 15.3% of the shares of the stock are sold short.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Citadel Advisors LLC acquired a new stake in shares of C3is in the third quarter worth $29,000. L1 Global Manager Pty Ltd acquired a new stake in C3is in the 4th quarter valued at $198,000. Finally, Wexford Capital LP raised its position 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 during the period. 10.54% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CISS has been the topic of several recent research reports. Wall Street Zen raised 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 analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has an average rating of “Sell”.

C3is Trading Down 0.9%

Shares of C3is stock traded down $0.01 during trading hours on Thursday, reaching $1.72. 224,139 shares of the company’s stock were exchanged, compared to its average volume of 607,638. The company has a fifty day moving average of $2.65 and a 200-day moving average of $10.71. C3is has a 52-week low of $1.54 and a 52-week high of $831.59. The firm has a market capitalization of $926,100.00, a price-to-earnings ratio of -0.00 and a beta of 1.28.

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