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

C3is Inc. (NASDAQ:CISS) saw 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. Currently, 15.3% of the shares of the stock are sold short. Based on an average trading volume of 779,824 shares, the short-interest ratio is currently 0.1 days.

Institutional Trading of C3is

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. L1 Global Manager Pty Ltd purchased a new position in C3is in the 4th quarter valued at about $198,000. Citadel Advisors LLC acquired a new stake in shares of C3is during the 3rd quarter worth about $29,000. Finally, Wexford Capital LP grew its holdings in shares of 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. Hedge funds and other institutional investors own 10.54% of the company’s stock.

Wall Street Analyst Weigh In

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

C3is Stock Performance

Shares of CISS remained flat at $1.79 during mid-day trading on Friday. 261,154 shares of the company were exchanged, compared to its average volume of 201,464. The company has a 50-day moving average of $2.57 and a two-hundred day moving average of $10.48. The stock has a market capitalization of $966,600.00, a price-to-earnings ratio of -0.00 and a beta of 1.28. C3is has a 12-month low of $1.54 and a 12-month 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 company 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.