C3is Inc. (NASDAQ:CISS) Short Interest Down 13.9% in September

C3is Inc. (NASDAQ:CISS) was the recipient of a large decrease in short interest in September. As of September 15th, there was short interest totalling 728,800 shares, a decrease of 13.9% from the August 31st total of 846,800 shares. Based on an average daily volume of 260,700 shares, the short-interest ratio is currently 2.8 days. Approximately 8.0% of the company’s stock are sold short.

C3is Price Performance

CISS stock traded up $0.02 during trading hours on Friday, reaching $1.12. 280,008 shares of the stock were exchanged, compared to its average volume of 824,389. The company has a market cap of $411,040.00, a price-to-earnings ratio of 0.04 and a beta of 2.92. The firm’s 50-day moving average is $1.24 and its 200-day moving average is $1.74. C3is has a 12 month low of $1.08 and a 12 month high of $68.49.

C3is (NASDAQ:CISS) last announced its quarterly earnings data on Thursday, August 22nd. The company reported $0.63 earnings per share for the quarter. C3is had a return on equity of 26.10% and a net margin of 1.97%. The company had revenue of $10.83 million during 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 stake in C3is Inc. (NASDAQ:CISS) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund 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. 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.