Cool (NYSE:CLCO) Sees Large Volume Increase – Here’s What Happened

Cool Company Ltd. (NYSE:CLCO) shares saw an uptick in trading volume on Wednesday . 1,555,784 shares traded hands during trading, an increase of 717% from the previous session’s volume of 190,514 shares.The stock last traded at $9.7650 and had previously closed at $9.81.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Wall Street Zen downgraded Cool from a “hold” rating to a “sell” rating in a report on Friday, September 26th. B. Riley lowered Cool from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 24th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Cool in a report on Wednesday, October 8th. Three investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company has an average rating of “Hold”.

Cool Trading Up 0.5%

The firm has a 50-day moving average of $9.03 and a 200 day moving average of $7.64. The company has a current ratio of 0.79, a quick ratio of 0.77 and a debt-to-equity ratio of 1.68. The stock has a market capitalization of $529.21 million, a price-to-earnings ratio of 57.97 and a beta of 0.70.

Hedge Funds Weigh In On Cool

A hedge fund recently bought a new stake in Cool stock. ABC Arbitrage SA acquired a new stake in shares of Cool Company Ltd. (NYSE:CLCO) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 15,084 shares of the company’s stock, valued at approximately $82,000. 20.66% of the stock is owned by hedge funds and other institutional investors.

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.