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

Cool Company Ltd. (NYSE:CLCO) experienced a notable drop in short interest during March. As of March 15, the short interest amounted to 316,000 shares, marking a decrease of 33.1% from the February 28 total of 472,500 shares. Given an average trading volume of 234,500 shares, the current short-interest ratio stands at 1.3 days. Presently, about 1.4% of the company's stock is sold short.

Wall Street Analyst Insights

In addition, Fearnley Fonds downgraded Cool from a "strong-buy" rating to a "hold" rating in a research note released on February 17.

Stock Performance of Cool

On Friday, shares of CLCO increased by $0.04 during midday trading, reaching a price of $5.50. A total of 90,070 shares changed hands, in comparison to the 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. The stock's 1-year low is $4.94, while its 1-year high is $13.68. The 50-day moving average price is $6.90, and the two-hundred day moving average price is $8.67. The company's market capitalization is $295.10 million, with a PE ratio of 8.08 and a beta of 0.64.

Institutional Investment Activity

Recently, several institutional investors and hedge funds have adjusted their positions in Cool. For instance, Barclays PLC increased its position in Cool shares by an astonishing 2,551.7% during the third quarter, now owning 48,791 shares valued at $551,000 after acquiring an additional 46,951 shares. XTX Topco Ltd. also established a new position in Cool during the fourth quarter, valued at $94,000. Additionally, Quadrature Capital Ltd. bought a new stake worth $124,000 in the third quarter, matching the investment made by the Public Employees Retirement System of Ohio. Finally, Quantbot Technologies LP entered a new position of $53,000 in Cool during the fourth quarter. Currently, institutional investors hold approximately 20.66% of the company’s stock.

About Cool Company Ltd.

Cool Company Ltd. is actively involved 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, alongside managing 17 LNGCs and floating storage and regasification units for third-party clients.

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