C3is Inc. (NASDAQ:CISS) Sees Significant Increase in Short Interest

C3is Inc. (NASDAQ:CISS) saw a large growth in short interest in the month of April. As of April 30th, there was short interest totaling 84,980 shares, a growth of 699.4% from the April 15th total of 10,631 shares. Based on an average daily trading volume, of 76,760 shares, the short-interest ratio is presently 1.1 days. Currently, 58.2% of the company’s shares are short sold.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. 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 note on Saturday, May 2nd. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has an average rating of “Sell”.

C3is Stock Down 2.4%

NASDAQ:CISS traded down $0.08 during mid-day trading on Wednesday, reaching $3.23. The company’s stock had a trading volume of 18,382 shares, compared to its average volume of 59,341. C3is has a 1 year low of $2.70 and a 1 year high of $831.59. The stock has a fifty day moving average of $5.68 and a 200-day moving average of $72.45. The firm has a market capitalization of $484,500.00, a PE ratio of 0.00 and a beta of 1.39.

C3is (NASDAQ:CISS) last released its quarterly earnings data on Friday, February 20th. The company reported ($34.02) earnings per share for the quarter. C3is had a return on equity of 2.38% and a net margin of 30.13%.The business had revenue of $10.55 million during the quarter.

Institutional Trading of C3is

A number of hedge funds have recently added to or reduced their stakes in the business. L1 Global Manager Pty Ltd purchased a new stake in C3is in the fourth quarter worth about $198,000. Wexford Capital LP grew its stake in C3is by 460.1% in the third 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 purchased a new position in C3is in the third quarter valued at about $29,000. 10.54% of the stock is owned by hedge funds and other institutional investors.

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.