C3is (NASDAQ:CISS) Trading Down 2.7% – Time to Sell?

C3is Inc. (NASDAQ:CISS)’s share price fell 2.7% on Tuesday . The stock traded as low as $0.61 and last traded at $0.63. 30,793 shares were traded during trading, a decline of 88% from the average session volume of 262,318 shares. The stock had previously closed at $0.65.

C3is Stock Down 2.7 %

The stock has a fifty day moving average price of $0.96 and a two-hundred day moving average price of $1.82. The company has a market capitalization of $92,962.80, a price-to-earnings ratio of 0.01 and a beta of 2.15.

C3is (NASDAQ:CISS) last announced its earnings results on Tuesday, March 11th. The company reported ($0.76) earnings per share for the quarter. C3is had a net margin of 5.74% and a return on equity of 19.35%. The firm had revenue of $9.41 million during the quarter.

Hedge Funds Weigh In On C3is

A hedge fund recently raised its stake in C3is stock. Towerview LLC grew its holdings in shares of C3is Inc. (NASDAQ:CISS) by 364.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 325,000 shares of the company’s stock after purchasing an additional 255,000 shares during the quarter. C3is makes up about 0.1% of Towerview LLC’s investment portfolio, making the stock its 22nd biggest position. Towerview LLC owned 216.67% of C3is worth $186,000 as of its most recent SEC filing. Institutional investors 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.