Cool (NYSE:CLCO) Sees Large Volume Increase - Here's Why

Key Points

• Cool Company Ltd. (NYSE:CLCO) experienced a significant increase in trading volume, with 775,690 shares traded—representing a 316% rise from the previous day.
• Several brokerages have downgraded the stock, with B. Riley changing its rating from "strong-buy" to "hold", and Wall Street Zen moving from "hold" to "sell."
• An institutional investor recently purchased 15,084 shares of Cool, valued at approximately $82,000, indicating continued interest from institutional players.

Cool Company Ltd. (NYSE:CLCO - Get Free Report) saw strong trading volume on Tuesday . 775,690 shares traded hands during trading, an increase of 316% from the previous session's volume of 186,320 shares.The stock last traded at $9.64 and had previously closed at $9.64.

Analyst Ratings Changes

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

Cool Stock Down 0.1%

The stock has a market cap of $517.40 million, a PE ratio of 14.17 and a beta of 0.70. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.77 and a current ratio of 0.79. The company's 50-day moving average price is $8.42 and its 200 day moving average price is $7.14.

Institutional Investors Weigh In On Cool

An institutional investor recently bought a new position in Cool stock. ABC Arbitrage SA bought 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 13F filing with the Securities and Exchange Commission. The firm bought 15,084 shares of the company's stock, valued at approximately $82,000. 20.66% of the stock is owned by 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.

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