Short Interest in C3is Inc. (NASDAQ:CISS) Rises By 6.6%

C3is Inc. (NASDAQ:CISS) saw a significant growth in short interest in the month of October. As of October 15th, there was short interest totalling 697,500 shares, a growth of 6.6% from the September 30th total of 654,500 shares. Based on an average trading volume of 189,000 shares, the days-to-cover ratio is presently 3.7 days. Currently, 8.5% of the shares of the company are sold short.

C3is Stock Performance

Shares of CISS traded down $0.01 during mid-day trading on Wednesday, hitting $1.16. The company’s stock had a trading volume of 61,499 shares, compared to its average volume of 748,066. C3is has a one year low of $1.08 and a one year high of $68.49. The firm has a market capitalization of $425,720.00, a PE ratio of 0.04 and a beta of 2.93. The stock’s 50-day moving average is $1.18 and its two-hundred day moving average is $1.33.

C3is (NASDAQ:CISS) last issued its earnings results on Thursday, August 22nd. The company reported $0.63 EPS for the quarter. The firm had revenue of $10.83 million during the quarter. C3is had a return on equity of 26.10% and a net margin of 1.97%.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in C3is stock. Acadian Asset Management LLC acquired a new position in shares of C3is Inc. (NASDAQ:CISS) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 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 reporting period. 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.