Cool (NYSE:CLCO) Trading Up 2.3% - Here's Why

Key Points

• Cool Company Ltd. (NYSE:CLCO) shares increased by 2.3%, trading at $7.43, with a total of 88,410 shares exchanged, significantly higher than the average volume.
• The company has a market capitalization of approximately $398.74 million and a P/E ratio of 10.92.
• Institutional investors, including Barclays PLC and ABC Arbitrage SA, have recently adjusted their holdings, now owning 20.66% of the company's stock.

Shares of Cool Company Ltd. (NYSE:CLCO - Get Free Report) were up 2.3% during mid-day trading on Thursday . The company traded as high as $7.55 and last traded at $7.43. Approximately 88,410 shares changed hands during mid-day trading, an increase of 65% from the average daily volume of 53,611 shares. The stock had previously closed at $7.26.

Cool Stock Up 2.2%

The business has a 50-day simple moving average of $6.87 and a 200-day simple moving average of $6.53. The company has a market cap of $405.22 million, a price-to-earnings ratio of 11.10 and a beta of 0.61. The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.94 and a current ratio of 0.97.

Institutional Trading of Cool

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. ABC Arbitrage SA acquired a new position in shares of Cool in the 1st quarter valued at $82,000. XTX Topco Ltd acquired a new position in Cool in the fourth quarter valued at $94,000. Finally, Barclays PLC increased its position in Cool by 3.9% in the 4th quarter. Barclays PLC now owns 50,708 shares of the company's stock valued at $403,000 after acquiring an additional 1,917 shares during the period. 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.