Cool Company Ltd. (NYSE:CLCO) Short Interest Up 181.4% in September

Cool Company Ltd. (NYSE:CLCO) was the recipient of a large increase in short interest during the month of September. As of September 15th, there was short interest totaling 213,300 shares, an increase of 181.4% from the August 31st total of 75,800 shares. Based on an average daily trading volume, of 79,900 shares, the short-interest ratio is currently 2.7 days. Approximately 1.0% of the shares of the company are sold short. Approximately 1.0% of the shares of the company are sold short. Based on an average daily trading volume, of 79,900 shares, the short-interest ratio is currently 2.7 days.

Institutional Trading of Cool

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) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 15,084 shares of the company’s stock, valued at approximately $82,000. Hedge funds and other institutional investors own 20.66% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on CLCO. B. Riley cut shares of Cool from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 24th. Wall Street Zen downgraded shares of Cool from a “hold” rating to a “sell” rating in a research report on Friday, September 26th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Cool in a report on Saturday, September 27th. Three investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has a consensus rating of “Hold”.

Cool Price Performance

CLCO stock opened at $9.57 on Friday. The stock’s 50 day moving average price is $7.92 and its 200 day moving average price is $6.81. The firm has a market cap of $513.64 million, a P/E ratio of 14.07 and a beta of 0.70. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.77 and a current ratio of 0.79. Cool has a 1 year low of $4.51 and a 1 year 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.