Cool Company Ltd. (NYSE:CLCO) Short Interest Decline in March

Cool Company Ltd. (NYSE:CLCO - Get Free Report) experienced a noteworthy reduction in its short interest throughout March. As of March 15th, the short interest was reported at 316,000 shares, marking a significant drop of 33.1% from the total of 472,500 shares on February 28th. With an average daily trading volume of 234,500 shares, the short-interest ratio stands at 1.3 days. Currently, about 1.4% of the company’s outstanding shares are sold short.

Wall Street Analysts' Perspectives

In addition, Fearnley Fonds made a change to Cool’s stock rating, downgrading it from a "strong-buy" to a "hold" in a research note released on February 17th.

Cool Stock Overview

During Friday’s midday trading, shares of CLCO increased by $0.04, reaching a price of $5.50. A total of 90,070 shares changed hands, compared to an average trading volume of 251,599. The company maintains a debt-to-equity ratio of 1.01, along with a quick ratio of 0.43 and a current ratio of 0.44. Cool Company Ltd. has seen its stock range between a low of $4.94 and a high of $13.68 over the past year. The 50-day moving average price is $6.90, while the 200-day moving average price is $8.67. Currently, the company holds a market capitalization of $295.10 million, a PE ratio of 8.08, and a beta of 0.64.

Recent Institutional Activities

Several institutional investors and hedge funds have recently made transactions involving Cool’s shares. Notably, Barclays PLC significantly increased its stake in Cool by 2,551.7% in the third quarter, acquiring an additional 46,951 shares to reach a total of 48,791 shares valued at $551,000. XTX Topco Ltd. also entered a new position in Cool during the fourth quarter worth $94,000. Similarly, Quadrature Capital Ltd. and Public Employees Retirement System of Ohio each purchased new positions in the third quarter, each investing approximately $124,000. Lastly, Quantbot Technologies LP added a new position during the fourth quarter, valued at $53,000. Overall, institutional investors hold 20.66% of Cool’s total shares.

About Cool Company Ltd.

Cool Company Ltd. is involved in the acquisition, ownership, operation, and chartering of liquefied natural gas carriers (LNGCs). As of December 31, 2023, the company owned a fleet comprising eleven LNGCs, which includes seven modern tri-fuel diesel electric vessels, two modern 2-stroke vessels, and two TFDE vessels. Additionally, it manages 17 LNGCs and floating storage and regasification units on behalf of third parties.

Conclusion and Future Outlook

As analysts continue to adjust their ratings and investors make strategic moves in the market, the future performance of Cool Company Ltd. (NYSE:CLCO) remains a subject of interest for investors and stakeholders alike. It is advisable for potential investors to stay informed about the ongoing developments regarding the company.

stocks, short, investment