Cool (NYSE:CLCO) Sees Unusually-High Trading Volume - What's Next?

Key Points

• Shares of Cool Company Ltd. experienced a 265% increase in trading volume, with approximately 638,927 shares traded on Monday compared to just 175,001 shares in the previous session.
• Recent analyst ratings for Cool show a trend towards caution, with Weiss Ratings reaffirming a "hold" rating and Wall Street Zen lowering its rating to "sell".
• As of now, institutional investors hold about 20.66% of Cool's shares, with ABC Arbitrage SA recently acquiring a new stake valued at approximately $82,000.

Shares of Cool Company Ltd. (NYSE:CLCO - Get Free Report) saw unusually-high trading volume on Monday . Approximately 638,927 shares changed hands during trading, an increase of 265% from the previous session's volume of 175,001 shares.The stock last traded at $9.58 and had previously closed at $9.57.

Analyst Ratings Changes

CLCO has been the subject of several recent analyst reports. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Cool in a report on Wednesday, October 8th. Wall Street Zen lowered Cool from a "hold" rating to a "sell" rating in a report on Friday, September 26th. Finally, B. Riley lowered Cool from a "strong-buy" rating to a "hold" rating in a report on Wednesday, September 24th. Three investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company has a consensus rating of "Hold".

Cool Trading Up 0.1%

The firm has a fifty day simple moving average of $8.15 and a two-hundred day simple moving average of $6.96. The firm has a market capitalization of $514.21 million, a P/E ratio of 14.08 and a beta of 0.70. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.79 and a quick ratio of 0.77.

Hedge Funds Weigh In On Cool

An institutional investor recently bought a new position in Cool stock. ABC Arbitrage SA acquired a new stake in shares of Cool Company Ltd. (NYSE:CLCO - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 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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