C3is Inc. (NASDAQ:CISS) Short Interest Down 53.3% in May

C3is Inc. (NASDAQ:CISS) saw a significant decrease in short interest in May. As of May 29th, there was short interest totaling 48,614 shares, a decrease of 53.3% from the May 14th total of 104,053 shares. Approximately 9.0% of the shares of the stock are sold short. Based on an average daily volume of 3,292,520 shares, the days-to-cover ratio is currently 0.0 days.

C3is Stock Performance

CISS stock traded down $0.19 during mid-day trading on Friday, reaching $2.08. 517,934 shares of the stock traded hands, compared to its average volume of 1,936,760. C3is has a one year low of $1.90 and a one year high of $831.59. The stock has a market capitalization of $1.12 million, a PE ratio of 0.00 and a beta of 1.27. The business has a 50-day moving average price of $3.62 and a two-hundred day moving average price of $32.96.

C3is (NASDAQ:CISS) last posted its quarterly earnings data 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 business had revenue of $23.15 million for the quarter.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of CISS. Citadel Advisors LLC bought a new position in C3is during the third quarter valued at $29,000. L1 Global Manager Pty Ltd bought a new position in C3is during the fourth quarter valued at $198,000. Finally, Wexford Capital LP grew its holdings in shares of C3is by 460.1% in the third 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. Institutional investors own 10.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on CISS. Weiss Ratings reaffirmed a “sell (d)” rating on shares of C3is in a research note on Friday, May 8th. Wall Street Zen raised shares of C3is from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has an average rating of “Sell”.

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.