C3is (CISS) Stock Surges Over 16% After Hours: Why is it Moving? C3is Shares Jump 16.57% After Hours on I

C3is Inc. (NASDAQ:CISS) shares jumped 16.57% to $0.10 after the bell on Tuesday.

In the regular session, shares of the Greece-based shipping company closed at $0.088, down 21.34%, according to Benzinga Pro data.

C3is experienced an elevated trading session on Tuesday. Volume reached 67.91 million shares, about 3.16 times the stock’s average daily volume of 21.48 million shares.

SEC Filings Reveal Fresh Institutional Bets

The stock move comes after a Monday Securities and Exchange Commission filing revealed that venture capital firm Alta Partners LLC owns an 8.2% stake, or 1.16 million shares, including 28,303 shares associated with warrants.