C3is Inc. (NASDAQ:CISS) Sees Significant Increase in Short Interest

C3is Inc. (NASDAQ:CISS) saw a large 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. Currently, 9.3% of the company’s shares are short sold. Based on an average trading volume of 101,700 shares, the days-to-cover ratio is currently 3.0 days.

C3is Stock Performance

CISS stock traded up $0.06 during mid-day trading on Wednesday, hitting $1.26. 32,188 shares of the company were exchanged, compared to its average volume of 179,958. The firm has a market cap of $189,000.00, a P/E ratio of 0.02 and a beta of 2.06. C3is has a 1-year low of $1.17 and a 1-year high of $45.35. The firm’s 50 day simple moving average is $1.60 and its 200 day simple moving average is $2.53.

Institutional Trading of C3is

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