Cool Company Ltd. (NYSE:CLCO) Short Interest Down 33.1% in March

Cool Company Ltd. (NYSE:CLCO) was the target of a large decrease in short interest in the month of March. As of March 15th, there was short interest totalling 316,000 shares, a decrease of 33.1% from the February 28th total of 472,500 shares. Based on an average daily volume of 234,500 shares, the days-to-cover ratio is currently 1.3 days. Currently, 1.4% of the shares of the company are sold short.

Wall Street Analyst Weigh In

Separately, Fearnley Fonds downgraded Cool from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 17th.

Cool Stock Performance

Shares of CLCO traded up $0.04 during midday trading on Friday, hitting $5.50. 90,070 shares of the stock traded hands, compared to its average volume of 251,599. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.43 and a current ratio of 0.44. Cool has a 1-year low of $4.94 and a 1-year high of $13.68. The business’s 50 day moving average price is $6.90 and its two-hundred day moving average price is $8.67. The firm has a market capitalization of $295.10 million, a PE ratio of 8.08 and a beta of 0.64.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Barclays PLC boosted its position in shares of Cool by 2,551.7% during the third quarter. Barclays PLC now owns 48,791 shares of the company’s stock worth $551,000 after buying an additional 46,951 shares during the period. XTX Topco Ltd acquired a new position in Cool during the 4th quarter worth $94,000. Quadrature Capital Ltd acquired a new position in Cool during the 3rd quarter worth $124,000. Public Employees Retirement System of Ohio bought a new position in shares of Cool in the third quarter worth $124,000. Finally, Quantbot Technologies LP acquired a new position in shares of Cool during the fourth quarter valued at $53,000. 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.