C3is Inc. (NASDAQ:CISS) Short Interest Down 33.9% in October

C3is Inc. (NASDAQ:CISS) was the target of a significant drop in short interest during the month of October. As of October 31st, there was short interest totalling 461,000 shares, a drop of 33.9% from the October 15th total of 697,500 shares. Based on an average daily trading volume, of 170,500 shares, the short-interest ratio is currently 2.7 days. Approximately 5.6% of the company’s shares are sold short.

Hedge Funds Weigh In On C3is

A hedge fund recently bought a new stake in C3is stock. Acadian Asset Management LLC acquired a new stake in C3is Inc. (NASDAQ:CISS) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 269,366 shares of the company’s stock, valued at approximately $374,000. Acadian Asset Management LLC owned 73.40% of C3is at the end of the most recent quarter. Hedge funds and other institutional investors own 10.54% of the company’s stock.

C3is Stock Performance

Shares of NASDAQ:CISS traded down $0.05 during midday trading on Thursday, reaching $1.09. The company’s stock had a trading volume of 396,061 shares, compared to its average volume of 718,313. The firm has a market capitalization of $400,030.00, a price-to-earnings ratio of 0.03 and a beta of 2.53. C3is has a fifty-two week low of $1.08 and a fifty-two week high of $68.49. The firm has a 50 day moving average price of $1.16 and a two-hundred day moving average price of $1.31.

C3is (NASDAQ:CISS) last issued its earnings results on Thursday, August 22nd. The company reported $0.63 earnings per share (EPS) for the quarter. The business had revenue of $10.83 million for the quarter. C3is had a net margin of 1.97% and a return on equity of 26.10%.

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.