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

C3is Inc. (NASDAQ:CISS) was the recipient of a large decline in short interest during the month of March. As of March 31st, there was short interest totalling 87,700 shares, a decline of 83.4% from the March 15th total of 527,500 shares. Based on an average daily volume of 27,200 shares, the days-to-cover ratio is currently 3.2 days. Currently, 12.5% of the shares of the stock are short sold.

Institutional Trading of C3is

An institutional investor recently raised its position in C3is stock. Towerview LLC increased its stake in C3is Inc. (NASDAQ:CISS) by 364.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 325,000 shares of the company’s stock after buying an additional 255,000 shares during the quarter. C3is comprises 0.1% of Towerview LLC’s portfolio, making the stock its 22nd largest position. Towerview LLC owned about 216.67% of C3is worth $186,000 as of its most recent filing with the SEC. 10.54% of the stock is owned by hedge funds and other institutional investors.

C3is Stock Performance

NASDAQ CISS traded down $0.04 during mid-day trading on Tuesday, reaching $3.36. 30,251 shares of the stock were exchanged, compared to its average volume of 28,126. C3is has a 1-year low of $2.85 and a 1-year high of $33.75. The stock has a market capitalization of $2.38 million, a PE ratio of 0.06 and a beta of 1.77. The business’s fifty day simple moving average is $4.86 and its 200 day simple moving average is $9.83.

C3is (NASDAQ:CISS) last announced its quarterly earnings results on Tuesday, March 11th. The company reported ($4.56) earnings per share for the quarter. The company had revenue of $9.41 million during the quarter. C3is had a net margin of 5.74% and a return on equity of 19.35%.

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.