Short Interest in Cool Company Ltd. (NYSE:CLCO) Decreases By 35.3%

Key Points

• Short interest in Cool Company Ltd. (NYSE:CLCO) decreased by 35.3% in August, with 75,800 shares short sold as of August 31st.
• Wall Street Zen upgraded Cool Company's rating from "strong sell" to "hold" on August 30th, reflecting a shift in analyst sentiment.
• An institutional investor, Donald Smith & Co. Inc., increased its stake in Cool by 3.9% in the second quarter, owning about 6.64% of the company following the acquisition of additional shares.

Cool Company Ltd. (NYSE:CLCO - Get Free Report) saw a large decline in short interest in the month of August. As of August 31st, there was short interest totaling 75,800 shares, a decline of 35.3% from the August 15th total of 117,200 shares. Approximately 0.4% of the company's shares are short sold. Based on an average daily trading volume, of 68,500 shares, the days-to-cover ratio is presently 1.1 days. Based on an average daily trading volume, of 68,500 shares, the days-to-cover ratio is presently 1.1 days. Approximately 0.4% of the company's shares are short sold.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised shares of Cool from a "strong sell" rating to a "hold" rating in a research note on Saturday, August 30th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company presently has an average rating of "Hold".

Cool Trading Down 0.2%

NYSE CLCO opened at $7.95 on Monday. Cool has a one year low of $4.51 and a one year high of $11.71. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.79 and a quick ratio of 0.77. The firm has a market cap of $426.65 million, a P/E ratio of 11.68 and a beta of 0.61. The stock's 50-day moving average is $7.38 and its 200-day moving average is $6.49.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Cool stock. Donald Smith & CO. Inc. increased its stake in shares of Cool Company Ltd. (NYSE:CLCO - Free Report) by 3.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,564,815 shares of the company's stock after acquiring an additional 132,704 shares during the period. Donald Smith & CO. Inc. owned about 6.64% of Cool worth $23,884,000 as of its most recent SEC filing. 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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