C3is (NASDAQ:CISS) Trading Down 7.6% – Time to Sell?

C3is Inc. (NASDAQ:CISS) shares dropped 7.6% on Monday . The company 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 Price Performance

The stock has a market capitalization of $107,324.70, a PE ratio of 0.01 and a beta of 2.15. The business’s fifty day moving average price is $1.17 and its two-hundred day moving average price is $2.08.

Institutional Investors Weigh In On C3is

A hedge fund recently raised its stake in C3is stock. Towerview LLC boosted its holdings in shares of C3is Inc. (NASDAQ:CISS) by 191.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 70,000 shares of the company’s stock after purchasing an additional 46,000 shares during the period. C3is comprises approximately 0.1% of Towerview LLC’s investment portfolio, making the stock its 24th biggest holding. Towerview LLC owned approximately 19.07% of C3is worth $80,000 as of its most recent SEC filing. 10.54% of the stock is currently owned by institutional investors and hedge funds.

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.