Cool Company Ltd. (NYSE:CLCO) Short Interest Declines Significantly in March

Cool Company Ltd. (NYSE:CLCO - Get Free Report) experienced a notable drop in short interest during March. As of March 15th, short interest fell to 316,000 shares, marking a significant decrease of 33.1% from the 472,500 shares reported on February 28th. Given the average trading volume of 234,500 shares, the short-interest ratio is now at 1.3 days. Currently, about 1.4% of the company's stock is sold short.

Wall Street Analyst Insights

In related news, Fearnley Fonds adjusted its rating on Cool from a "strong-buy" to a "hold" in a research report published on February 17th.

Check Out Our Latest Research Report on CLCO

Cool Stock Performance Overview

On Friday, during midday trading, CLCO shares rose by $0.04, reaching $5.50. This trading session saw 90,070 shares exchanged compared to the average volume of 251,599 shares. The company's financial metrics include a debt-to-equity ratio of 1.01, a quick ratio of 0.43, and a current ratio of 0.44. Over the past year, the stock recorded a low of $4.94 and a high of $13.68. The 50-day moving average stands at $6.90, while the 200-day average is $8.67. The market capitalization of the company is approximately $295.10 million, with a price-to-earnings (PE) ratio of 8.08 and a beta of 0.64.

Recent Institutional Activity

Several institutional investors have recently adjusted their holdings in Cool. During the third quarter, Barclays PLC significantly increased its stake by 2,551.7%, now owning 48,791 shares valued at $551,000 after purchasing an additional 46,951 shares. Additionally, XTX Topco Ltd and Quadrature Capital Ltd established new positions in Cool worth $94,000 and $124,000, respectively. The Public Employees Retirement System of Ohio also bought new shares in the third quarter, investing $124,000. Lastly, Quantbot Technologies LP entered a new position valued at $53,000 during the fourth quarter. Overall, institutional investors currently hold 20.66% of Cool's stock.

About Cool Company Ltd.

(Get Free Report)

Cool Company Ltd. specializes in the acquisition, ownership, operation, and chartering of liquefied natural gas carriers (LNGCs). As of December 31, 2023, the company owned a fleet of eleven LNGCs, which includes seven modern tri-fuel diesel electric vessels; two modern 2-stroke vessels and two TFDE vessels. Moreover, it manages 17 LNGCs and floating storage and regasification units for third-party clients.

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