C3is Inc. (NASDAQ:CISS) Short Interest Up 69.4% in July

C3is Inc. (NASDAQ:CISS) saw a large increase in short interest in July. As of July 15th, there was short interest totaling 60,980 shares, an increase 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 currently 0.6 days. Currently, 11.3% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

CISS has been the topic of several research reports. Wall Street Zen upgraded C3is from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Weiss Ratings reiterated a “sell (d)” rating on shares of C3is in a research report on Friday, May 8th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has an average rating of “Sell”.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CISS. Citadel Advisors LLC purchased a new stake in shares of C3is in the third quarter valued at approximately $29,000. Wexford Capital LP lifted its position 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. Finally, L1 Global Manager Pty Ltd purchased a new position in C3is during the fourth quarter worth approximately $198,000. 10.54% of the stock is currently owned by institutional investors and hedge funds.

C3is Stock Up 2.3%

Shares of NASDAQ CISS opened at $0.14 on Friday. The stock has a market capitalization of $73,576.00, a price-to-earnings ratio of -0.00 and a beta of 1.28. C3is has a 52 week low of $0.10 and a 52 week high of $831.59. The firm has a 50-day simple moving average of $1.77 and a 200-day simple moving average of $6.25.

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

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.