C3is (NASDAQ:CISS) Shares to Reverse Split on Monday, April 27th
by Teresa Graham · The Cerbat GemC3is Inc. (NASDAQ:CISS – Free Report) shares are going to reverse split on Monday, April 27th. The 1-7 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Sunday, April 26th.
C3is Trading Down 45.4%
CISS traded down $0.36 during trading on Thursday, hitting $0.43. The company’s stock had a trading volume of 2,241,833 shares, compared to its average volume of 92,067. C3is has a twelve month low of $0.41 and a twelve month high of $118.80. The firm’s 50 day moving average price is $1.10 and its 200-day moving average price is $14.74.
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. C3is had a return on equity of 2.38% and a net margin of 30.13%.The business had revenue of $10.55 million for the quarter.
Wall Street Analyst Weigh In
A number of brokerages have issued reports on CISS. 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 research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, C3is presently has an average rating of “Sell”.
Check Out Our Latest Analysis on C3is
Institutional Trading of C3is
Institutional investors have recently made changes to their positions in the stock. Citadel Advisors LLC acquired a new stake in shares of C3is during the 3rd quarter worth $29,000. Wexford Capital LP boosted its holdings in C3is by 460.1% in the third quarter. Wexford Capital LP now owns 112,014 shares of the company’s stock valued at $240,000 after acquiring an additional 92,014 shares during the last quarter. Finally, L1 Global Manager Pty Ltd purchased a new stake in C3is during the fourth quarter valued at about $198,000. 10.54% of the stock is owned by hedge funds and other 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.