C3is (NASDAQ:CISS) Shares Down 8.8% – Here’s What Happened

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

C3is Price Performance

The firm has a market cap of $535,820.00, a price-to-earnings ratio of 0.06 and a beta of 2.07. The stock has a 50-day moving average price of $0.89 and a 200 day moving average price of $1.13.

Institutional Investors Weigh In On C3is

An institutional investor recently bought a new position in C3is stock. Acadian Asset Management LLC purchased a new position in shares of C3is Inc. (NASDAQ:CISS) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 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 reporting period. 10.54% of the stock is owned by 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.