C3is Shares Slide 18% After Q4 Loss Narrows to $4.86, Fleet Expansion
Shares plunged 18.3% after Q4 results showed adjusted loss per share narrowed to $4.86 from $24.90 a year earlier with net income up to $2.7 million and voyage revenues rising 13% to $10.6 million. Technicals are bearish—trading 12.5% below 20-day average near 52-week lows—with two tankers boosting fleet capacity 387% next year.
1. Q4 Financial Performance
C3is reported an adjusted loss per share of $4.86 in Q4, improving from a $24.90 loss a year earlier. Adjusted net income more than doubled to $2.7 million, driven by voyage revenues rising to $10.6 million from $9.4 million and a 24% increase in average daily TCE rates.
2. Fleet Expansion and Liquidity
The company ended the year with $14.9 million in cash after repaying $15.1 million on a vessel loan. It has contracted two product tankers for delivery in Q1 and Q3 2026, which will boost fleet capacity by 387%, positioning C3is for market growth.
3. Stock Movement and Technical Analysis
Shares tumbled 18.26% to $1.79 as of Friday morning, trading 12.5% below their 20-day SMA and 10.2% below their 100-day SMA, near 52-week lows. The RSI sits at 45, while MACD remains below its signal line, indicating bearish momentum despite support at $1.50 and resistance at $2.00.