You didn't mention at what price "here" is, or at what price point you'll "be adding more" and in what quantity, to indicate to others whether your strategy is sound or not.
Overextending position size and tying up capital for long periods in a declining market increases risk significantly.
I'd expect CEI to land under 1.00 before December 31, a better place to swing trade it. I've made more shorting CEI down this year than on rises, much easier in a falling market. Not that it can't jump up on a Reddit pump, so I wish you well on that, but I wouldn't add to an 85 K share position without a drop (to around 1.00) that justifies a bounce to the 1.25 range. Good luck.
Happy trading!
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