C3is Inc. (NASDAQ:CISS) Short Interest Update

C3is Inc. (NASDAQ:CISS) saw a significant drop in short interest in August. As of August 31st, there was short interest totaling 93,408 shares, a drop of 83.0% from the August 15th total of 551,009 shares. Based on an average daily volume of 2,190,645 shares, the days-to-cover ratio is currently 0.0 days. Approximately 6.3% of the company’s stock are short sold.

C3is Stock Down 5.5%

CISS stock traded down $0.08 during trading on Friday, reaching $1.37. The stock had a trading volume of 253,755 shares, compared to its average volume of 1,353,300. The company has a market capitalization of $2.04 million, a price-to-earnings ratio of 0.00 and a beta of 1.41. C3is has a one year low of $1.32 and a one year high of $33,263.44. The company’s 50 day moving average is $20.90 and its two-hundred day moving average is $129.08.

C3is (NASDAQ:CISS) last posted its earnings results on Thursday, August 27th. The company reported $345.57 EPS for the quarter. The firm had revenue of $48.09 million for the quarter. C3is had a net margin of 41.33% and a return on equity of 14.94%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Citadel Advisors LLC purchased a new position in shares of C3is in the 3rd quarter worth about $29,000. Wexford Capital LP raised its position in 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 acquiring an additional 92,014 shares during the period. Finally, L1 Global Manager Pty Ltd bought a new stake in C3is in the fourth quarter worth about $198,000. Institutional investors own 10.54% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of C3is in a report on Wednesday, August 5th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, C3is has a consensus rating of “Sell”.

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.