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

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

Cool Stock Up 2.3 %

NYSE:CLCO traded up $0.13 during mid-day trading on Wednesday, hitting $5.73. The stock had a trading volume of 58,680 shares, compared to its average volume of 247,538. The company has a market capitalization of $307.72 million, a PE ratio of 8.43 and a beta of 0.64. The stock has a 50-day simple moving average of $7.38 and a two-hundred day simple moving average of $8.97. Cool has a twelve month low of $4.94 and a twelve month 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.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Mirabella Financial Services LLP grew its stake in shares of Cool by 6,596.0% in 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. Barclays PLC boosted its position 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 purchasing an additional 46,951 shares in the last quarter. XTX Topco Ltd purchased a new stake in shares of Cool during the 4th quarter worth approximately $94,000. Quadrature Capital Ltd acquired a new stake in Cool in the third quarter valued at $124,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in Cool in the 3rd quarter valued at about $124,000. Hedge funds and other institutional investors own 20.66% of the company’s stock.

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.