C3is Stock Set to Reverse Split on Monday, April 27th (NASDAQ:CISS)
by Danessa Lincoln · The Markets DailyC3is Inc. (NASDAQ:CISS – Free Report) shares are scheduled to reverse split on the morning of Monday, April 27th. The 1-7 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Sunday, April 26th.
C3is Trading Down 45.4%
CISS traded down $0.36 during trading on Thursday, reaching $0.43. The company had a trading volume of 2,241,833 shares, compared to its average volume of 92,067. The firm’s 50-day simple moving average is $1.10 and its 200 day simple moving average is $14.74. C3is has a 12-month low of $0.41 and a 12-month high of $118.80.
C3is (NASDAQ:CISS – Get Free Report) last issued its quarterly earnings results on Friday, February 20th. The company reported ($4.86) earnings per share for the quarter. The company had revenue of $10.55 million during the quarter. C3is had a return on equity of 2.38% and a net margin of 30.13%.
Analysts Set New Price Targets
Several equities analysts have weighed in on CISS shares. Wall Street Zen raised C3is to a “sell” rating in a research note on Saturday, February 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of C3is in a research note on Monday, December 29th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, C3is currently has a consensus rating of “Sell”.
Check Out Our Latest Report on C3is
Hedge Funds Weigh In On C3is
Institutional investors and hedge funds have recently bought and sold shares of the business. Citadel Advisors LLC acquired a new stake in shares of C3is during the 3rd quarter valued at about $29,000. L1 Global Manager Pty Ltd acquired a new stake in shares of C3is during the 4th quarter valued at about $198,000. Finally, Wexford Capital LP lifted its holdings in shares of C3is by 460.1% during the 3rd quarter. Wexford Capital LP now owns 112,014 shares of the company’s stock valued at $240,000 after buying an additional 92,014 shares during the last quarter. Hedge funds and other institutional investors own 10.54% of the company’s stock.
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.