C3is (NASDAQ:CISS) Trading Down 7.6% – Here’s Why

C3is Inc. (NASDAQ:CISS) shares were down 7.6% during mid-day trading on Monday . The stock traded as low as $0.71 and last traded at $0.73. Approximately 37,205 shares traded hands during trading, a decline of 87% from the average daily volume of 282,777 shares. The stock had previously closed at $0.79.

C3is Stock Performance

The company’s 50-day moving average is $1.14 and its 200 day moving average is $2.04. The stock has a market capitalization of $105,840.00, a PE ratio of 0.01 and a beta of 2.15.

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

Institutional Investors Weigh In On C3is

A hedge fund recently raised its stake in C3is stock. Towerview LLC grew its holdings in C3is Inc. (NASDAQ:CISS) by 364.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 325,000 shares of the company’s stock after acquiring an additional 255,000 shares during the period. C3is comprises 0.1% of Towerview LLC’s holdings, making the stock its 22nd biggest position. Towerview LLC owned about 216.67% of C3is worth $186,000 as of its most recent SEC filing. 10.54% of the stock is owned by hedge funds and other institutional investors.

About C3is

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.