C3is Inc. (NASDAQ:CISS) Sees Large Growth in Short Interest

C3is Inc. (NASDAQ:CISS) was the target of a large growth in short interest during 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 trading volume of 76,760 shares, the days-to-cover ratio is currently 1.1 days. Currently, 58.2% of the shares of the company are sold short.

Analyst Ratings Changes

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

C3is Price Performance

Shares of NASDAQ:CISS remained flat at $3.32 during trading on Tuesday. The stock had a trading volume of 8,994 shares, compared to its average volume of 381,207. The stock has a 50 day simple moving average of $5.98 and a two-hundred day simple moving average of $76.65. The company has a market capitalization of $498,000.00, a PE ratio of 0.00 and a beta of 1.39. C3is has a 52 week low of $2.70 and a 52 week high of $831.59.

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

Hedge Funds Weigh In On C3is

Several hedge funds and other institutional investors have recently modified their holdings of CISS. L1 Global Manager Pty Ltd bought a new position in shares of C3is during the fourth quarter worth about $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 period. Finally, Citadel Advisors LLC acquired a new position in C3is during the 3rd quarter valued at about $29,000. Institutional investors and hedge funds own 10.54% of the company’s stock.

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.