C3is Inc. (NASDAQ:CISS) Stock Short Interest Declines 77.8%

C3is Inc. (NASDAQ:CISS) saw a significant decline in short interest in September. As of September 15th, there was short interest totaling 20,750 shares, a decline of 77.8% from the August 31st total of 93,408 shares. Currently, 1.4% of the company’s stock are short sold. Based on an average daily volume of 286,443 shares, the days-to-cover ratio is currently 0.1 days.

Institutional Investors Weigh In On C3is

A hedge fund recently bought a new stake in C3is stock. L1 Global Manager Pty Ltd acquired a new position in shares of C3is Inc. (NASDAQ:CISS) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm 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. 10.54% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of C3is in a report on Wednesday, August 5th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has an average rating of “Sell”.

C3is Price Performance

NASDAQ:CISS traded down $0.01 during midday trading on Friday, reaching $1.11. 261,600 shares of the company traded hands, compared to its average volume of 1,215,447. The company has a fifty day moving average price of $7.44 and a 200 day moving average price of $98.41. The firm has a market capitalization of $1.65 million, a price-to-earnings ratio of 0.00 and a beta of 1.41. C3is has a twelve month low of $1.00 and a twelve month high of $33,263.44.

C3is (NASDAQ:CISS) last issued its quarterly earnings data on Thursday, August 27th. The company reported $345.57 earnings per share for the quarter. C3is had a net margin of 41.33% and a return on equity of 14.94%. The firm had revenue of $48.09 million for the quarter.

C3is Company Profile

C3is Inc is a maritime transportation company that owns and operates oceangoing vessels. The company’s fleet has primarily consisted of crude oil tankers and dry bulk carriers, which transport energy products and commodities across international shipping routes.

C3is provides seaborne transportation services to charterers and commercial counterparties in global markets. Its operations are exposed to the international tanker and dry bulk sectors, with vessels typically employed under voyage or time-charter arrangements depending on market conditions and fleet strategy.

The company is incorporated in the Marshall Islands and maintains its principal executive offices in Athens, Greece, reflecting its focus on the international shipping industry.