Cool (NYSE:CLCO) Hits New 12-Month High – Here’s Why

Cool Company Ltd. (NYSE:CLCO)’s share price hit a new 52-week high during trading on Monday . The company traded as high as $9.87 and last traded at $9.93, with a volume of 323230 shares trading hands. The stock had previously closed at $9.82.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Wall Street Zen cut shares of Cool from a “hold” rating to a “sell” rating in a research report on Friday, September 26th. B. Riley downgraded shares of Cool from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 24th. Zacks Research downgraded shares of Cool from a “hold” rating to a “strong sell” rating in a report on Friday, November 21st. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Cool in a research note on Wednesday, October 8th. Three analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Reduce”.

Cool Stock Performance

The company has a quick ratio of 0.77, a current ratio of 0.79 and a debt-to-equity ratio of 1.68. The stock has a market cap of $535.12 million, a P/E ratio of 16.61 and a beta of 0.69. The business has a 50 day moving average price of $9.75 and a 200 day moving average price of $8.45.

Cool (NYSE:CLCO) last posted its quarterly earnings data on Thursday, November 20th. The company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.02. The company had revenue of $86.31 million during the quarter, compared to analysts’ expectations of $84.71 million. Cool had a return on equity of 7.94% and a net margin of 17.45%. As a group, sell-side analysts expect that Cool Company Ltd. will post 1.68 EPS for the current year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Cool stock. Donald Smith & CO. Inc. grew its position in Cool Company Ltd. (NYSE:CLCO) by 3.9% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,564,815 shares of the company’s stock after buying an additional 132,704 shares during the period. Donald Smith & CO. Inc. owned 6.64% of Cool worth $23,884,000 at the end of the most recent quarter. Institutional investors own 20.66% of the company’s stock.

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. The company was founded in 1970 and is based in London, the United Kingdom.