C3is (NASDAQ:CISS) Trading Down 3.3% – What’s Next?

C3is Inc. (NASDAQ:CISS) dropped 3.3% on Monday . The stock traded as low as $1.14 and last traded at $1.16. Approximately 101,366 shares changed hands during trading, a decline of 87% from the average daily volume of 770,357 shares. The stock had previously closed at $1.20.

C3is Stock Performance

The firm’s 50 day simple moving average is $1.20 and its 200-day simple moving average is $1.43. The company has a market capitalization of $425,720.00, a price-to-earnings ratio of 0.04 and a beta of 2.93.

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

Institutional Trading of C3is

A hedge fund recently bought a new stake in C3is stock. Acadian Asset Management LLC bought a new position in C3is Inc. (NASDAQ:CISS) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 269,366 shares of the company’s stock, valued at approximately $374,000. Acadian Asset Management LLC owned about 73.40% of C3is at the end of the most recent reporting period. Institutional investors and hedge funds 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.