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

C3is Inc. (NASDAQ:CISS) saw a significant drop in short interest during the month of November. As of November 15th, there was short interest totalling 257,100 shares, a drop of 44.2% from the October 31st total of 461,000 shares. Approximately 3.1% of the shares of the company are short sold. Based on an average daily trading volume, of 184,100 shares, the days-to-cover ratio is presently 1.4 days.

Hedge Funds Weigh In On C3is

An institutional investor recently raised its position in C3is stock. Towerview LLC lifted its stake 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 & Exchange Commission. The institutional investor owned 70,000 shares of the company’s stock after purchasing an additional 46,000 shares during the quarter. C3is comprises about 0.1% of Towerview LLC’s investment portfolio, making the stock its 24th largest holding. Towerview LLC owned 19.07% of C3is worth $80,000 as of its most recent filing with the Securities & Exchange Commission. 10.54% of the stock is owned by institutional investors and hedge funds.

C3is Stock Performance

Shares of C3is stock traded down $0.06 during trading on Thursday, hitting $0.76. 511,635 shares of the stock were exchanged, compared to its average volume of 706,571. C3is has a 12 month low of $0.75 and a 12 month high of $68.49. The stock has a market cap of $278,920.00, a PE ratio of 0.03 and a beta of 2.53. The stock’s fifty day moving average is $1.11 and its 200 day moving average is $1.28.

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.