What Lies Ahead For C3is Inc (NASDAQ: CISS) In 2024?

C3is Inc (NASDAQ:CISS) shares, rose in value, with the stock price up by 24.21% to the previous day’s close as strong demand from buyers drove the stock to $0.05.

Actively observing the price movement in the last trading, the stock closed the session at $0.04. The PE ratio was 0.04 over 12-month period. Referring to stock’s 52-week performance, its high was $20.00, and the low was $0.02. On the whole, CISS has fluctuated by -45.44% over the past month.

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Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that CISS’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium term indicators have put the stock in the category of 100% Sell while long term indicators on average have been pointing out that it is a 100% Sell.

The stock’s technical analysis shows that the PEG ratio is about 0, with the price of CISS currently trading nearly -10.41% and -47.91% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 39.02, while the 7-day volatility ratio is showing 21.48% which for the 30-day chart, stands at 18.23%. Furthermore, C3is Inc (CISS)’s average true range (ATR) is 0.01.

Data on historical trading for C3is Inc (NASDAQ:CISS) indicates that the trading volumes over the past 10 days have averaged 127.05 million and over the past 3 months, they’ve averaged 32.78 million. According to company’s latest data on outstanding shares, there are 164.00 million shares outstanding.

Nearly 3.08% of C3is Inc’s shares belong to company insiders and institutional investors own 7.68% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 2.41 million shares as on Mar 15, 2024, resulting in a short ratio of 0.2. According to the data, the short interest in C3is Inc (CISS) stood at 5.48% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 2.26 million. The stock has fallen by -90.41% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the CISS stock heading into the next quarter.