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

Cool Company Ltd. (NYSE:CLCO - Get Free Report) was the target of a large decline in short interest in the month of March. As of March 15th, there was short interest totalling 316,000 shares, a decline of 33.1% from the February 28th total of 472,500 shares. Based on an average trading volume of 234,500 shares, the days-to-cover ratio is presently 1.3 days. Currently, 1.4% of the shares of the company are sold short.

Hedge Funds Weigh In On Cool

Large investors have recently modified their holdings of the company. Barclays PLC lifted its stake in Cool by 2,551.7% in the 3rd quarter. Barclays PLC now owns 48,791 shares of the company's stock worth $551,000 after purchasing an additional 46,951 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of Cool in the fourth quarter worth $53,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Cool in the third quarter worth $124,000. Quadrature Capital Ltd bought a new stake in Cool during the third quarter valued at $124,000. Finally, XTX Topco Ltd purchased a new position in Cool during the fourth quarter worth about $94,000. 20.66% of the stock is currently owned by institutional investors.

Cool Price Performance

CLCO stock traded down $0.08 during mid-day trading on Wednesday, reaching $5.35. 77,404 shares of the company traded hands, compared to its average volume of 226,776. The company has a fifty day moving average price of $6.78 and a 200-day moving average price of $8.56. Cool has a 52-week low of $4.94 and a 52-week high of $13.68. The company has a market capitalization of $287.31 million, a P/E ratio of 7.87 and a beta of 0.64. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.44 and a quick ratio of 0.43.

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Wall Street Analysts Forecast Growth

Separately, Fearnley Fonds lowered Cool from a "strong-buy" rating to a "hold" rating in a 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.