Cool Company Ltd. (NYSE:CLCO) Sees Large Growth in Short Interest

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) saw a large increase in short interest in the month of August. As of August 15th, there was short interest totaling 117,200 shares, an increase of 34.7% from the July 31st total of 87,000 shares. Based on an average trading volume of 74,900 shares, the short-interest ratio is currently 1.6 days. Approximately 0.6% of the shares of the stock are sold short. Approximately 0.6% of the shares of the stock are sold short. Based on an average trading volume of 74,900 shares, the short-interest ratio is currently 1.6 days.

Cool Price Performance

Shares of CLCO stock traded down $0.02 during midday trading on Friday, reaching $7.95. 44,077 shares of the company traded hands, compared to its average volume of 66,695. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.79 and a quick ratio of 0.77. Cool has a 1-year low of $4.51 and a 1-year high of $11.71. The firm has a market cap of $426.67 million, a PE ratio of 11.68 and a beta of 0.61. The firm's 50 day simple moving average is $7.38 and its two-hundred day simple moving average is $6.49.

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 equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold".

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Cool stock. Donald Smith & CO. Inc. increased its stake in shares of Cool Company Ltd. (NYSE:CLCO - Free Report) by 3.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,564,815 shares of the company's stock after purchasing an additional 132,704 shares during the period. Donald Smith & CO. Inc. owned 6.64% of Cool worth $23,884,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 20.66% of the company's stock.

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.