C3is Inc. (NASDAQ:CISS) Short Interest Up 6.6% in October

C3is Inc. (NASDAQ:CISS) was the target of a large increase in short interest in 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. Based on an average daily trading volume, of 189,000 shares, the days-to-cover ratio is currently 3.7 days. Currently, 8.5% of the shares of the stock are sold short.

C3is Trading Up 0.4 %

CISS stock traded up $0.01 during trading on Friday, hitting $1.19. The company had a trading volume of 44,093 shares, compared to its average volume of 741,877. The company has a fifty day moving average price of $1.17 and a two-hundred day moving average price of $1.33. C3is has a fifty-two week low of $1.08 and a fifty-two week high of $68.49. The company has a market cap of $438,450.00, a P/E ratio of 0.03 and a beta of 2.93.

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

Institutional Investors Weigh In On C3is

A hedge fund recently bought a new stake in C3is stock. Acadian Asset Management LLC acquired a new position in shares of C3is Inc. (NASDAQ:CISS) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 269,366 shares of the company’s stock, valued at approximately $374,000. Acadian Asset Management LLC owned 73.40% of C3is as of its most recent SEC filing. 10.54% of the stock is currently 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.