C3is Inc. (NASDAQ:CISS) Short Interest Update

C3is Inc. (NASDAQ:CISS) was the target of a significant increase in short interest during the month of January. As of January 15th, there was short interest totalling 303,700 shares, an increase of 298.6% from the December 31st total of 76,200 shares. Based on an average daily volume of 101,700 shares, the days-to-cover ratio is currently 3.0 days. Currently, 9.3% of the shares of the stock are sold short.

C3is Price Performance

CISS stock traded down $0.05 during midday trading on Tuesday, reaching $1.20. The company had a trading volume of 211,479 shares, compared to its average volume of 188,241. The firm has a 50-day moving average price of $1.63 and a 200-day moving average price of $2.55. C3is has a 1 year low of $1.17 and a 1 year high of $45.35. The company has a market capitalization of $180,000.00, a P/E ratio of 0.02 and a beta of 2.06.

Hedge Funds Weigh In On C3is

A hedge fund recently raised its stake in C3is stock. Towerview LLC grew its stake in shares of C3is Inc. (NASDAQ:CISS) by 191.7% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 70,000 shares of the company’s stock after purchasing an additional 46,000 shares during the quarter. C3is makes up approximately 0.1% of Towerview LLC’s portfolio, making the stock its 24th biggest position. Towerview LLC owned 19.07% of C3is worth $80,000 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.