Why Are C3is Shares Tumbling On Friday?

• C3is stock is taking a hit today. What’s behind CISS decline?Earnings SnapshotThe company reported adjusted loss per share of $4.86, which narrowed from a loss of $24.90 a year ago quarter, as adjusted net income more than doubled to $2.7 million from $1.1 million in the prior year quarter.Voyage revenues rose to $10.6 million from $9.4 million in the prior year, led by higher average TCE rates for the vessels and the decrease in idle days. Average daily TCE increased by 24% in the quarter.Fleet operatio ...