C3is Inc. (NASDAQ:CISS) Short Interest Down 53.3% in May

C3is Inc. (NASDAQ:CISS) was the recipient of a significant decrease in short interest during the month of May. As of May 29th, there was short interest totaling 48,614 shares, a decrease of 53.3% from the May 14th total of 104,053 shares. Currently, 9.0% of the company’s shares are short sold. Based on an average daily volume of 3,292,520 shares, the short-interest ratio is currently 0.0 days.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on CISS shares. Wall Street Zen upgraded shares of C3is from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. Weiss Ratings restated a “sell (d)” rating on shares of C3is in a report on Friday, May 8th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, C3is currently has a consensus rating of “Sell”.

Institutional Trading of C3is

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

C3is Trading Down 8.4%

Shares of NASDAQ CISS traded down $0.19 during mid-day trading on Friday, reaching $2.08. The company had a trading volume of 517,934 shares, compared to its average volume of 1,936,760. The business’s 50-day moving average is $3.62 and its 200-day moving average is $32.96. The stock has a market cap of $1.12 million, a price-to-earnings ratio of 0.00 and a beta of 1.27. C3is has a 52 week low of $1.90 and a 52 week high of $831.59.

C3is (NASDAQ:CISS) last released its quarterly earnings data on Tuesday, May 19th. The company reported $5.24 earnings per share for the quarter. C3is had a net margin of 15.28% and a return on equity of 6.78%. The company had revenue of $23.15 million during the quarter.

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.