Short Interest in Cool Company Ltd. (NYSE:CLCO) Increases By 426.6%

Cool Company Ltd. (NYSE:CLCO) saw a large growth in short interest in the month of September. As of September 15th, there was short interest totalling 568,700 shares, a growth of 426.6% from the August 31st total of 108,000 shares. Based on an average daily volume of 221,000 shares, the short-interest ratio is currently 2.6 days. Approximately 2.6% of the company’s stock are short sold.

Hedge Funds Weigh In On Cool

A number of institutional investors have recently modified their holdings of the company. Sunbelt Securities Inc. acquired a new position in shares of Cool during the first quarter worth approximately $50,000. Seelaus Asset Management LLC acquired a new stake in Cool in the 1st quarter worth $115,000. Hosking Partners LLP bought a new position in shares of Cool during the 1st quarter worth about $12,124,000. Susquehanna International Group Ltd. bought a new position in shares of Cool during the 1st quarter worth about $275,000. Finally, Donald Smith & CO. Inc. raised its position in shares of Cool by 58.6% during the first quarter. Donald Smith & CO. Inc. now owns 3,214,826 shares of the company’s stock valued at $35,749,000 after buying an additional 1,187,651 shares during the last quarter. Institutional investors own 20.66% of the company’s stock.

Cool Stock Performance

Shares of CLCO traded down $0.04 during midday trading on Friday, reaching $11.34. 105,650 shares of the stock were exchanged, compared to its average volume of 232,213. The firm has a 50 day simple moving average of $11.54 and a 200-day simple moving average of $11.54. Cool has a 12-month low of $10.07 and a 12-month high of $13.94. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 1.00.

Cool Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were paid a dividend of $0.41 per share. The ex-dividend date of this dividend was Monday, September 9th. This represents a $1.64 annualized dividend and a dividend yield of 14.46%. Cool’s dividend payout ratio (DPR) is presently 89.62%.

Cool Company Profile

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.