Short Interest in C3is Inc. (NASDAQ:CISS) Declines By 80.8%

C3is Inc. (NASDAQ:CISS) was the recipient of a large decline in short interest in August. As of August 14th, there was short interest totaling 551,009 shares, a decline of 80.8% from the July 30th total of 2,866,583 shares. Based on an average daily trading volume, of 79,613,822 shares, the short-interest ratio is currently 0.0 days. Approximately 1,377.5% of the company’s stock are sold short.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CISS. L1 Global Manager Pty Ltd purchased a new position in C3is in the 4th quarter worth approximately $198,000. Wexford Capital LP boosted its stake in C3is by 460.1% during the 3rd quarter. Wexford Capital LP now owns 112,014 shares of the company’s stock valued at $240,000 after purchasing an additional 92,014 shares during the last quarter. Finally, Citadel Advisors LLC bought a new stake in shares of C3is in the 3rd quarter worth $29,000. Institutional investors own 10.54% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on CISS. Weiss Ratings reiterated a “sell (d)” rating on shares of C3is in a research note on Wednesday, August 5th. 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, According to data from MarketBeat.com, the company has a consensus rating of “Sell”.

C3is Stock Down 27.3%

Shares of NASDAQ CISS traded down $0.80 during trading on Thursday, reaching $2.13. The company had a trading volume of 12,229,198 shares, compared to its average volume of 1,657,550. C3is has a 12-month low of $1.96 and a 12-month high of $33,263.44. The business’s 50-day moving average is $36.45 and its 200 day moving average is $163.18. The stock has a market cap of $85,200.00, a PE ratio of -0.00 and a beta of 1.51.

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.