Short Interest in C3is Inc. (NASDAQ:CISS) Declines By 73.5%

C3is Inc. (NASDAQ:CISS) saw a significant decline in short interest in November. As of November 30th, there was short interest totalling 68,200 shares, a decline of 73.5% from the November 15th total of 257,100 shares. Based on an average daily volume of 175,700 shares, the short-interest ratio is presently 0.4 days. Currently, 0.8% of the shares of the company are short sold.

C3is Price Performance

Shares of CISS stock traded down $0.02 during trading hours on Wednesday, reaching $0.73. 112,534 shares of the company traded hands, compared to its average volume of 686,313. The firm has a 50-day moving average price of $1.04 and a 200 day moving average price of $1.23. The company has a market cap of $268,497.20, a P/E ratio of 0.03 and a beta of 2.07. C3is has a 12-month low of $0.68 and a 12-month high of $68.49.

Hedge Funds Weigh In On C3is

A hedge fund recently raised its stake in C3is stock. Towerview LLC lifted its holdings in C3is Inc. (NASDAQ:CISS) by 191.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 70,000 shares of the company’s stock after acquiring an additional 46,000 shares during the period. C3is accounts for about 0.1% of Towerview LLC’s portfolio, making the stock its 24th biggest holding. Towerview LLC owned approximately 19.07% of C3is worth $80,000 as of its most recent SEC filing. Institutional investors and hedge funds 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.