Cool Company Ltd. (NYSE:CLCO) Short Interest Update

Key Points

• Cool Company Ltd. (NYSE:CLCO) experienced a significant increase in short interest, rising by 181.4% in September, with a total of 213,300 shares sold short as of September 15th.
• Multiple analysts have downgraded CLCO, with Wall Street Zen reducing its rating from "hold" to "sell" and B. Riley changing from "strong-buy" to "hold."
• As of the latest report, institutional investors own 20.66% of Cool Company Ltd.'s stock, indicating ongoing interest from larger investment firms.

Cool Company Ltd. (NYSE:CLCO - Get Free Report) was the recipient of a large growth in short interest during the month of September. As of September 15th, there was short interest totaling 213,300 shares, a growth of 181.4% from the August 31st total of 75,800 shares. Approximately 1.0% of the company's shares are sold short. Based on an average daily volume of 79,900 shares, the days-to-cover ratio is currently 2.7 days. Based on an average daily volume of 79,900 shares, the days-to-cover ratio is currently 2.7 days. Approximately 1.0% of the company's shares are sold short.

Analyst Ratings Changes

Several research firms have weighed in on CLCO. Wall Street Zen downgraded Cool from a "hold" rating to a "sell" rating in a research report on Friday, September 26th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Cool in a report on Saturday, September 27th. Finally, B. Riley downgraded Cool from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, September 24th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has an average rating of "Hold".

Institutional Trading of Cool

A hedge fund recently bought a new stake in Cool stock. ABC Arbitrage SA bought a new stake in shares of Cool Company Ltd. (NYSE:CLCO - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 15,084 shares of the company's stock, valued at approximately $82,000. Institutional investors own 20.66% of the company's stock.

Cool Stock Up 0.2%

CLCO traded up $0.02 on Friday, reaching $9.55. The company's stock had a trading volume of 301,790 shares, compared to its average volume of 159,950. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.79 and a quick ratio of 0.77. The business's 50 day moving average is $7.86 and its 200 day moving average is $6.77. Cool has a 1 year low of $4.51 and a 1 year high of $11.71. The stock has a market cap of $512.57 million, a price-to-earnings ratio of 14.04 and a beta of 0.70.

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.

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