Cool (NYSE:CLCO) Sees Strong Trading Volume - Here's Why

Key Points

• Cool Company Ltd. (NYSE:CLCO) experienced a significant increase in trading volume, with about 510,202 shares traded—up 238% from the previous session.
• B. Riley and Wall Street Zen have downgraded the stock from "strong-buy" and "hold" to "hold" and "sell," respectively, reflecting a current average rating of "Hold" among analysts.
• An institutional investor, ABC Arbitrage SA, recently acquired 15,084 shares of Cool, valued at approximately $82,000, contributing to institutional investors owning 20.66% of the company's stock.

Cool Company Ltd. (NYSE:CLCO - Get Free Report) saw unusually-high trading volume on Monday . Approximately 510,202 shares were traded during trading, an increase of 238% from the previous session's volume of 150,943 shares.The stock last traded at $9.50 and had previously closed at $9.27.

Wall Street Analysts Forecast Growth

CLCO has been the subject of a number of recent analyst reports. B. Riley lowered Cool from a "strong-buy" rating to a "hold" rating in a report on Wednesday. Wall Street Zen downgraded Cool from a "hold" rating to a "sell" rating in a research report on Friday. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has an average rating of "Hold".

Cool Stock Performance

The company has a market capitalization of $510.96 million, a PE ratio of 13.99 and a beta of 0.61. The company has a 50 day moving average of $7.64 and a two-hundred day moving average of $6.68. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.79 and a quick ratio of 0.77.

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 Cool Company Ltd. (NYSE:CLCO - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 15,084 shares of the company's stock, valued at approximately $82,000. Institutional investors and hedge funds own 20.66% of the company's stock.

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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