Short Interest in Cool Company Ltd. (NYSE:CLCO) Expands By 34.7%

Key Points

• Short interest in Cool Company Ltd. increased by 34.7% to 117,200 shares as of August 15, indicating heightened bearish sentiment among investors.
• ABC Arbitrage SA has acquired a new stake of 15,084 shares in Cool Company, contributing to the 20.66% institutional ownership of the stock.
• Wall Street Zen upgraded Cool shares from a "strong sell" rating to a "hold" rating, reflecting a more favorable outlook among analysts.

Cool Company Ltd. (NYSE:CLCO - Get Free Report) was the target of a large growth in short interest in August. As of August 15th, there was short interest totaling 117,200 shares, agrowthof34.7% from the July 31st total of 87,000 shares. Based on an average daily trading volume, of 74,900 shares, the short-interest ratio is presently 1.6 days. Approximately0.6% of the shares of the stock are sold short. Approximately0.6% of the shares of the stock are sold short. Based on an average daily trading volume, of 74,900 shares, the short-interest ratio is presently 1.6 days.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Cool stock. ABC Arbitrage SA acquired a new position in shares of Cool Company Ltd. (NYSE:CLCO - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor acquired 15,084 shares of the company's stock, valued at approximately $82,000. 20.66% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded shares of Cool from a "strong sell" rating to a "hold" rating in a research report on Saturday, August 30th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has an average rating of "Hold".

Cool Trading Up 2.8%

NYSE:CLCO traded up $0.21 on Monday, reaching $7.77. The stock had a trading volume of 59,461 shares, compared to its average volume of 66,727. The company has a market cap of $417.25 million, a price-to-earnings ratio of 11.43 and a beta of 0.61. 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's fifty day moving average is $7.31 and its two-hundred day moving average is $6.46. Cool has a 12-month low of $4.51 and a 12-month high of $11.71.

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.

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