Cool (NYSE:CLCO) Stock Price Up 2.3% - Here's What Happened

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) traded up 2.3% on Thursday . The company traded as high as $7.55 and last traded at $7.43. 88,410 shares traded hands during trading, an increase of 65% from the average session volume of 53,611 shares. The stock had previously closed at $7.26.

Cool Trading Down 0.8%

The firm has a market capitalization of $395.23 million, a price-to-earnings ratio of 10.82 and a beta of 0.61. The business has a 50-day moving average of $6.84 and a two-hundred day moving average of $6.56. The company has a quick ratio of 0.94, a current ratio of 0.97 and a debt-to-equity ratio of 1.75.

Institutional Investors Weigh In On Cool

A number of institutional investors have recently added to or reduced their stakes in CLCO. Barclays PLC lifted its stake in Cool by 3.9% during the fourth quarter. Barclays PLC now owns 50,708 shares of the company's stock worth $403,000 after purchasing an additional 1,917 shares during the period. XTX Topco Ltd bought a new position in Cool during the fourth quarter worth about $94,000. Finally, ABC Arbitrage SA bought a new position in Cool during the first quarter worth about $82,000. 20.66% of the stock is owned by institutional investors and hedge funds.

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.