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

Cool Company Ltd. (NYSE:CLCO - Get Free Report) saw a large decrease in short interest in February. As of February 28th, there was short interest totalling 472,500 shares, a decrease of 21.0% from the February 13th total of 598,000 shares. Based on an average daily volume of 246,500 shares, the days-to-cover ratio is currently 1.9 days. Approximately 2.1% of the shares of the stock are sold short.

Institutional Investors Weigh In On Cool

Large investors have recently modified their holdings of the business. Barclays PLC raised its holdings in shares of Cool by 2,551.7% during the 3rd quarter. Barclays PLC now owns 48,791 shares of the company's stock worth $551,000 after buying an additional 46,951 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in Cool during the third quarter worth about $124,000. Apollon Wealth Management LLC lifted its holdings in shares of Cool by 93.9% in the third quarter. Apollon Wealth Management LLC now owns 21,639 shares of the company's stock worth $244,000 after acquiring an additional 10,482 shares during the last quarter. Quadrature Capital Ltd acquired a new stake in shares of Cool in the 3rd quarter valued at approximately $124,000. Finally, Mirabella Financial Services LLP grew its holdings in shares of Cool by 6,596.0% during the 3rd quarter. Mirabella Financial Services LLP now owns 4,017,612 shares of the company's stock valued at $45,274,000 after purchasing an additional 3,957,612 shares during the last quarter. Institutional investors and hedge funds own 20.66% of the company's stock.

Cool Price Performance

Shares of NYSE CLCO traded down $0.26 during trading hours on Friday, hitting $5.56. 141,566 shares of the stock were exchanged, compared to its average volume of 247,819. The company's fifty day simple moving average is $7.28 and its two-hundred day simple moving average is $8.92. The company has a market cap of $298.59 million, a PE ratio of 8.18 and a beta of 0.64. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.43 and a current ratio of 0.44. Cool has a 1-year low of $4.94 and a 1-year high of $13.68.

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Analyst Ratings Changes

Separately, Fearnley Fonds cut shares of Cool from a "strong-buy" rating to a "hold" rating in a research report on Monday, February 17th.

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.