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

Key Points

• Cool Company Ltd. (NYSE:CLCO) experienced a significant reduction in short interest, dropping by 73.8% from 213,300 shares to 55,800 shares as of September 30th.
• ABC Arbitrage SA acquired a new stake in Cool Company during the first quarter, purchasing 15,084 shares valued at approximately $82,000, bringing hedge fund ownership to 20.66% of the stock.
• Recent analyst ratings for Cool include downgrades from "strong-buy" to "hold" and "sell", indicating a consensus rating of "Hold" among three analysts.

Cool Company Ltd. (NYSE:CLCO - Get Free Report) was the target of a significant decrease in short interest in the month of September. As of September 30th, there was short interest totaling 55,800 shares, a decrease of 73.8% from the September 15th total of 213,300 shares. Currently, 0.3% of the shares of the company are sold short. Based on an average daily volume of 156,100 shares, the short-interest ratio is currently 0.4 days. Based on an average daily volume of 156,100 shares, the short-interest ratio is currently 0.4 days. Currently, 0.3% of the shares of the company are sold short.

Hedge Funds Weigh In On Cool

A hedge fund recently bought a new stake in Cool stock. ABC Arbitrage SA purchased a new position in shares of Cool Company Ltd. (NYSE:CLCO - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 15,084 shares of the company's stock, valued at approximately $82,000. 20.66% of the stock is owned by hedge funds and other institutional investors.

Cool Stock Performance

Shares of CLCO stock opened at $9.67 on Friday. The company has a market capitalization of $519.01 million, a P/E ratio of 14.21 and a beta of 0.70. The business's 50 day moving average is $8.37 and its two-hundred day moving average is $7.08. The company has a current ratio of 0.79, a quick ratio of 0.77 and a debt-to-equity ratio of 1.68. Cool has a 12-month low of $4.51 and a 12-month high of $11.54.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CLCO. B. Riley downgraded Cool from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, September 24th. Weiss Ratings restated a "hold (c-)" rating on shares of Cool in a research note on Wednesday, October 8th. Finally, Wall Street Zen downgraded Cool from a "hold" rating to a "sell" rating in a research note on Friday, September 26th. Three analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock has a consensus rating of "Hold".

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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