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

Cool Company Ltd. (NYSE:CLCO) was the recipient of a significant decline in short interest during 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. Currently, 1.4% of the shares of the stock are short sold. Based on an average daily volume of 234,500 shares, the days-to-cover ratio is currently 1.3 days.

Analyst Ratings Changes

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

Cool Trading Down 0.9 %

Shares of CLCO stock traded down $0.05 during mid-day trading on Monday, hitting $5.45. 106,655 shares of the company’s stock were exchanged, compared to its average volume of 251,021. The stock has a market cap of $292.68 million, a price-to-earnings ratio of 8.01 and a beta of 0.64. The stock has a 50-day simple moving average of $6.84 and a two-hundred day simple moving average of $8.60. Cool has a fifty-two week low of $4.94 and a fifty-two week high of $13.68. The company has a quick ratio of 0.43, a current ratio of 0.44 and a debt-to-equity ratio of 1.01.

Hedge Funds Weigh In On Cool

A number of large investors have recently modified their holdings of CLCO. Quantbot Technologies LP purchased a new stake in Cool during the 4th quarter worth $53,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Cool in the third quarter valued at about $124,000. Quadrature Capital Ltd purchased a new stake in shares of Cool during the 3rd quarter valued at about $124,000. XTX Topco Ltd purchased a new position in Cool in the 4th quarter worth approximately $94,000. Finally, Barclays PLC grew its position in Cool by 2,551.7% in the third quarter. Barclays PLC now owns 48,791 shares of the company’s stock valued at $551,000 after acquiring an additional 46,951 shares in the last quarter. 20.66% of the stock is currently owned by hedge funds and other institutional investors.

Cool Company Profile

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.