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

C3is Inc. (NASDAQ:CISS) saw a significant growth in short interest in February. As of February 13th, there was short interest totaling 271,959 shares, a growth of 56.0% from the January 29th total of 174,310 shares. Based on an average daily volume of 11,506,155 shares, the short-interest ratio is presently 0.0 days. Approximately 26.7% of the company’s shares are sold short. Approximately 26.7% of the company’s shares are sold short. Based on an average daily volume of 11,506,155 shares, the short-interest ratio is presently 0.0 days.

Institutional Trading of C3is

A number of large investors have recently made changes to their positions in CISS. L1 Global Manager Pty Ltd acquired a new stake in C3is in the fourth quarter valued at approximately $198,000. Wexford Capital LP increased its position in shares of C3is by 460.1% in 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 acquired a new stake in shares of C3is in the 3rd quarter valued at $29,000. 10.54% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on CISS shares. Wall Street Zen upgraded C3is to a “sell” rating in a report on Saturday, February 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of C3is in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has an average rating of “Sell”.

C3is Stock Up 2.7%

NASDAQ:CISS opened at $1.54 on Friday. C3is has a 52 week low of $1.35 and a 52 week high of $118.80. The company has a fifty day simple moving average of $2.74 and a two-hundred day simple moving average of $28.42. The company has a market cap of $1.57 million, a price-to-earnings ratio of -0.01 and a beta of 1.96.

C3is (NASDAQ:CISS) last released its earnings results on Thursday, February 19th. The company reported ($4.86) earnings per share (EPS) for the quarter. C3is had a net margin of 30.13% and a return on equity of 2.38%.

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.