L1 Global Manager Pty Ltd Makes New $198,000 Investment in C3is Inc. $CISS

L1 Global Manager Pty Ltd acquired a new position in shares of C3is Inc. (NASDAQ:CISS) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 861,260 shares of the company’s stock, valued at approximately $198,000. L1 Global Manager Pty Ltd owned approximately 84.44% of C3is as of its most recent SEC filing.

Separately, Wexford Capital LP grew its stake in C3is by 460.1% during the third quarter. Wexford Capital LP now owns 112,014 shares of the company’s stock worth $240,000 after buying an additional 92,014 shares in the last quarter. 10.54% of the stock is owned by institutional investors.

C3is Stock Down 8.4%

Shares of C3is stock opened at $2.08 on Friday. The company has a market capitalization of $1.12 million, a price-to-earnings ratio of 0.00 and a beta of 1.27. C3is Inc. has a 12-month low of $1.90 and a 12-month high of $831.59. The firm’s 50-day moving average price is $3.62 and its two-hundred day moving average price is $32.96.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CISS shares. Wall Street Zen upgraded shares of C3is from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. Weiss Ratings reiterated 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 MarketBeat, C3is currently has a consensus rating of “Sell”.

C3is 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.