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

C3is Inc. (NASDAQ:CISS) saw a significant growth in short interest in the month of January. As of January 30th, there was short interest totaling 174,310 shares, a growth of 187.7% from the January 15th total of 60,586 shares. Approximately 17.1% of the shares of the company are short sold. Based on an average daily volume of 3,433,868 shares, the short-interest ratio is presently 0.1 days. Based on an average daily volume of 3,433,868 shares, the short-interest ratio is presently 0.1 days. Approximately 17.1% of the shares of the company are short sold.

C3is Stock Down 2.6%

Shares of NASDAQ:CISS opened at $1.51 on Friday. The company’s 50-day moving average price is $5.15 and its 200 day moving average price is $33.06. The company has a market cap of $1.54 million, a PE ratio of 0.00 and a beta of 1.96. C3is has a fifty-two week low of $1.35 and a fifty-two week high of $145.20.

Institutional Trading of C3is

A number of institutional investors have recently bought and sold shares of CISS. L1 Global Manager Pty Ltd purchased a new stake in shares of C3is during the 4th quarter worth about $198,000. Wexford Capital LP increased its holdings 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 buying an additional 92,014 shares during the last quarter. Finally, Citadel Advisors LLC bought a new position in C3is during the third quarter valued at approximately $29,000. Institutional investors and hedge funds own 10.54% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on CISS. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of C3is in a report on Monday, December 29th. Wall Street Zen upgraded C3is to a “sell” rating in a research note on Saturday, February 7th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Sell”.

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.