C3is (NASDAQ:CISS) Trading Down 0.9% – Here’s What Happened

C3is Inc. (NASDAQ:CISS) traded down 0.9% during mid-day trading on Monday . The stock traded as low as $2.07 and last traded at $2.12. 112,921 shares traded hands during trading, a decline of 94% from the average session volume of 1,885,698 shares. The stock had previously closed at $2.14.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Wall Street Zen upgraded shares of C3is from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Weiss Ratings reiterated a “sell (d)” rating on shares of C3is in a research report on Friday, May 8th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has a consensus rating of “Sell”.

C3is Stock Performance

The company’s 50-day moving average is $3.90 and its 200-day moving average is $37.74. The firm has a market cap of $1.14 million, a price-to-earnings ratio of 0.00 and a beta of 1.27.

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

Institutional Investors Weigh In On C3is

Institutional investors and hedge funds have recently modified their holdings of the business. Citadel Advisors LLC acquired a new position in C3is in the third quarter valued at approximately $29,000. L1 Global Manager Pty Ltd bought a new position in C3is in the fourth quarter valued at approximately $198,000. Finally, Wexford Capital LP grew its holdings in C3is by 460.1% during the 3rd 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. 10.54% of the stock is owned by institutional investors.

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.