C3is Inc. (NASDAQ:CISS) Short Interest Up 6.6% in October

C3is Inc. (NASDAQ:CISS) was the target of a large growth in short interest in the month of October. As of October 15th, there was short interest totalling 697,500 shares, a growth of 6.6% from the September 30th total of 654,500 shares. Based on an average daily volume of 189,000 shares, the days-to-cover ratio is currently 3.7 days. Currently, 8.5% of the company’s shares are sold short.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in C3is stock. Acadian Asset Management LLC bought a new stake in C3is Inc. (NASDAQ:CISS) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 269,366 shares of the company’s stock, valued at approximately $374,000. Acadian Asset Management LLC owned about 73.40% of C3is as of its most recent SEC filing. 10.54% of the stock is currently owned by institutional investors.

C3is Price Performance

C3is stock traded up $0.01 during mid-day trading on Friday, hitting $1.19. The company’s stock had a trading volume of 44,093 shares, compared to its average volume of 741,877. The firm’s 50 day moving average is $1.17 and its 200 day moving average is $1.33. The company has a market cap of $438,450.00, a PE ratio of 0.03 and a beta of 2.93. C3is has a 52-week low of $1.08 and a 52-week 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 (EPS) for the quarter. The firm had revenue of $10.83 million during the quarter. C3is had a return on equity of 26.10% and a net margin of 1.97%.

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.