Cool Company Ltd. (NYSE:CLCO) Sees Large Decrease in Short Interest

Cool Company Ltd. (NYSE:CLCO) was the recipient of a significant decrease in short interest in the month of March. As of March 15th, there was short interest totalling 316,000 shares, a decrease of 33.1% from the February 28th total of 472,500 shares. Based on an average daily volume of 234,500 shares, the short-interest ratio is presently 1.3 days. Approximately 1.4% of the shares of the stock are sold short.

Cool Price Performance

NYSE:CLCO traded up $0.04 during mid-day trading on Friday, reaching $5.50. 90,070 shares of the stock were exchanged, compared to its average volume of 251,599. Cool has a 1-year low of $4.94 and a 1-year high of $13.68. The company has a current ratio of 0.44, a quick ratio of 0.43 and a debt-to-equity ratio of 1.01. The firm has a market capitalization of $295.10 million, a PE ratio of 8.08 and a beta of 0.64. The business has a fifty day moving average price of $6.90 and a 200 day moving average price of $8.67.

Wall Street Analyst Weigh In

Separately, Fearnley Fonds lowered Cool from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 17th.

Institutional Trading of Cool

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Barclays PLC boosted its holdings in Cool by 3.9% during the fourth quarter. Barclays PLC now owns 50,708 shares of the company’s stock worth $403,000 after buying an additional 1,917 shares in the last quarter. Quantbot Technologies LP bought a new stake in shares of Cool during the 4th quarter worth $53,000. Public Employees Retirement System of Ohio acquired a new position in shares of Cool in the 3rd quarter worth $124,000. Quadrature Capital Ltd acquired a new stake in shares of Cool during the third quarter worth $124,000. Finally, XTX Topco Ltd purchased a new stake in shares of Cool during the fourth quarter valued at $94,000. 20.66% of the stock is currently owned by institutional investors.

About Cool

Cool Company Ltd. engages in the acquisition, ownership, operation, and chartering of liquefied natural gas carriers (LNGCs). As of December 31, 2023, it owned a fleet of eleven LNGCs, including seven modern tri-fuel diesel electric vessels; two modern 2-stroke and two TFDE vessels; and managed 17 LNGCs and floating storage and regasification units for third parties.