C3is Inc. (NASDAQ:CISS) Sees Significant Increase in Short Interest

by · The Markets Daily

C3is Inc. (NASDAQ:CISS – Get Free Report) saw a large increase in short interest in the month of October. As of October 15th, there was short interest totalling 697,500 shares, an increase of 6.6% from the September 30th total of 654,500 shares. Currently, 8.5% of the shares of the stock are sold short. Based on an average daily volume of 189,000 shares, the days-to-cover ratio is currently 3.7 days.

C3is Price Performance

Shares of CISS traded up $0.01 during midday trading on Friday, reaching $1.19. The stock had a trading volume of 36,046 shares, compared to its average volume of 741,839. The company has a market capitalization of $440,300.00, a P/E ratio of 0.03 and a beta of 2.93. The firm’s 50 day moving average price is $1.17 and its 200-day moving average price is $1.33. C3is has a 52 week low of $1.08 and a 52 week high of $68.49.

C3is (NASDAQ:CISS – Get Free Report) last announced its quarterly earnings data on Thursday, August 22nd. The company reported $0.63 earnings per share (EPS) for the quarter. C3is had a net margin of 1.97% and a return on equity of 26.10%. The company had revenue of $10.83 million for the quarter.

Institutional Investors Weigh In On C3is

An institutional investor recently bought a new position in C3is stock. Acadian Asset Management LLC purchased a new position in C3is Inc. (NASDAQ:CISS – Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 269,366 shares of the company’s stock, valued at approximately $374,000. Acadian Asset Management LLC owned approximately 73.40% of C3is at the end of the most recent quarter. 10.54% of the stock is currently owned by hedge funds and other institutional investors.

C3is Company Profile

(Get Free Report)

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.

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