C3is Inc. (NASDAQ:CISS) Short Interest Down 83.4% in March

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

Institutional Inflows and Outflows

A hedge fund recently raised its stake in C3is stock. Towerview LLC increased its holdings in shares of C3is Inc. (NASDAQ:CISS) by 364.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 325,000 shares of the company’s stock after purchasing an additional 255,000 shares during the period. C3is accounts for 0.1% of Towerview LLC’s investment portfolio, making the stock its 22nd largest holding. Towerview LLC owned 216.67% of C3is worth $186,000 as of its most recent SEC filing. 10.54% of the stock is currently owned by hedge funds and other institutional investors.

C3is Price Performance

Shares of CISS stock traded down $0.04 during trading hours on Tuesday, reaching $3.36. 30,251 shares of the stock were exchanged, compared to its average volume of 28,126. The business’s fifty day moving average is $4.86 and its two-hundred day moving average is $9.83. The firm has a market capitalization of $2.38 million, a P/E ratio of 0.06 and a beta of 1.77. C3is has a 12-month low of $2.85 and a 12-month high of $33.75.

C3is (NASDAQ:CISS) last posted its quarterly earnings results on Tuesday, March 11th. The company reported ($4.56) earnings per share for the quarter. The business 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%.

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.