C3is Inc. (NASDAQ:CISS) Sees Large Growth in Short Interest

C3is Inc. (NASDAQ:CISS) was the target of a significant increase in short interest in the month of August. As of August 15th, there was short interest totalling 835,400 shares, an increase of 8.3% from the July 31st total of 771,600 shares. Currently, 16.2% of the company’s stock are short sold. Based on an average daily volume of 825,100 shares, the days-to-cover ratio is presently 1.0 days.

C3is Stock Performance

Shares of NASDAQ CISS opened at $1.16 on Wednesday. The company has a 50 day simple moving average of $1.33 and a two-hundred day simple moving average of $2.89. C3is has a fifty-two week low of $1.09 and a fifty-two week high of $68.49. The company has a market capitalization of $429,200.00, a price-to-earnings ratio of 0.04 and a beta of 2.89.

C3is (NASDAQ:CISS) last posted 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.

Hedge Funds Weigh In On C3is

A hedge fund recently bought a new stake in C3is stock. Acadian Asset Management LLC acquired a new stake in shares of C3is Inc. (NASDAQ:CISS) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 269,366 shares of the company’s stock, valued at approximately $374,000. Acadian Asset Management LLC owned approximately 73.40% of C3is as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 10.54% of the company’s stock.

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.