C3is (NASDAQ:CISS) Trading Down 8.8% – Should You Sell?

Shares of C3is Inc. (NASDAQ:CISS) dropped 8.8% during trading on Friday . The stock traded as low as $1.45 and last traded at $1.46. Approximately 233,551 shares traded hands during trading, a decline of 17% from the average daily volume of 280,475 shares. The stock had previously closed at $1.60.

C3is Stock Down 8.8 %

The company has a market cap of $214,620.00, a PE ratio of 0.06 and a beta of 2.06. The stock’s 50 day simple moving average is $2.13 and its two-hundred day simple moving average is $2.79.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in C3is stock. Acadian Asset Management LLC acquired a new stake in C3is Inc. (NASDAQ:CISS) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 269,366 shares of the company’s stock, valued at approximately $374,000. Acadian Asset Management LLC owned approximately 73.40% of C3is at the end of the most recent reporting period. 10.54% of the stock is 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.