Short Interest in C3is Inc. (NASDAQ:CISS) Expands By 298.6%

C3is Inc. (NASDAQ:CISS) was the target of a significant increase in short interest in 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 shares of the stock are sold short. Based on an average trading volume of 101,700 shares, the days-to-cover ratio is currently 3.0 days.

Hedge Funds Weigh In On C3is

An institutional investor recently raised its position in C3is stock. Towerview LLC boosted its stake in shares of C3is Inc. (NASDAQ:CISS) by 191.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,000 shares of the company’s stock after acquiring an additional 46,000 shares during the quarter. C3is accounts for 0.1% of Towerview LLC’s portfolio, making the stock its 24th largest position. Towerview LLC owned about 19.07% of C3is worth $80,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors own 10.54% of the company’s stock.

C3is Trading Down 7.9 %

NASDAQ:CISS traded down $0.10 during mid-day trading on Thursday, hitting $1.17. The company’s stock had a trading volume of 37,318 shares, compared to its average volume of 178,271. The stock has a fifty day moving average of $1.59 and a 200-day moving average of $2.52. The company has a market capitalization of $175,500.00, a price-to-earnings ratio of 0.02 and a beta of 2.06. C3is has a fifty-two week low of $1.17 and a fifty-two week high of $43.03.

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.