C3is Inc. (NASDAQ:CISS) Short Interest Down 83.0% in August

C3is Inc. (NASDAQ:CISS) was the recipient of a large decrease in short interest during the month of August. As of August 31st, there was short interest totaling 93,408 shares, a decrease of 83.0% from the August 15th total of 551,009 shares. Approximately 6.3% of the shares of the company are sold short. Based on an average trading volume of 2,190,645 shares, the short-interest ratio is presently 0.0 days.

Hedge Funds Weigh In On C3is

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. L1 Global Manager Pty Ltd acquired a new stake in shares of C3is in the 4th quarter valued at approximately $198,000. Wexford Capital LP grew its holdings in C3is by 460.1% during 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 acquired a new position in C3is during the third quarter worth $29,000. Institutional investors and hedge funds own 10.54% of the company’s stock.

C3is Price Performance

Shares of CISS stock traded down $0.01 during mid-day trading on Friday, hitting $1.44. The stock had a trading volume of 158,181 shares, compared to its average volume of 370,426. C3is has a fifty-two week low of $1.32 and a fifty-two week high of $33,263.44. The firm has a market cap of $2.15 million, a PE ratio of 0.00 and a beta of 1.41. The company’s 50-day simple moving average is $22.31 and its 200-day simple moving average is $129.98.

C3is (NASDAQ:CISS) last issued its quarterly earnings results on Thursday, August 27th. The company reported $345.57 earnings per share (EPS) for the quarter. The business 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%.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of C3is in a research note on Wednesday, August 5th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, C3is presently has an average 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.