Short Interest in C3is Inc. (NASDAQ:CISS) Rises By 69.4%

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

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on CISS shares. Wall Street Zen raised shares of C3is from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. Weiss Ratings reissued a “sell (d)” rating on shares of C3is in a research note on Friday, May 8th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has an average rating of “Sell”.

C3is Price Performance

C3is stock opened at $0.14 on Friday. The stock has a market capitalization of $73,576.00, a PE ratio of -0.00 and a beta of 1.28. The business has a 50 day simple moving average of $1.77 and a 200-day simple moving average of $6.25. C3is has a 12 month low of $0.10 and a 12 month high of $831.59.

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

Hedge Funds Weigh In On C3is

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CISS. Citadel Advisors LLC acquired a new stake in shares of C3is in the third quarter valued at about $29,000. L1 Global Manager Pty Ltd purchased a new stake in shares of C3is during the fourth quarter worth about $198,000. Finally, Wexford Capital LP raised 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 worth $240,000 after purchasing an additional 92,014 shares during the last quarter. 10.54% of the stock is owned by hedge funds and other institutional investors.

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.