Cool Company Ltd. (NYSE:CLCO) Receives Average Recommendation of “Reduce” from Brokerages

Cool Company Ltd. (NYSE:CLCO) has been given an average rating of “Reduce” by the four research firms that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating and three have given a hold rating to the company.

A number of equities research analysts have commented on CLCO shares. B. Riley downgraded Cool from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 24th. Weiss Ratings reissued a “hold (c-)” rating on shares of Cool in a research report on Wednesday, October 8th. Zacks Research cut shares of Cool from a “hold” rating to a “strong sell” rating in a research report on Friday, November 21st. Finally, Wall Street Zen lowered shares of Cool from a “hold” rating to a “sell” rating in a research note on Friday, September 26th.

Institutional Trading of Cool

A hedge fund recently raised its stake in Cool stock. Donald Smith & CO. Inc. lifted its holdings in shares of Cool Company Ltd. (NYSE:CLCO) by 3.9% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,564,815 shares of the company’s stock after purchasing an additional 132,704 shares during the quarter. Donald Smith & CO. Inc. owned about 6.64% of Cool worth $23,884,000 as of its most recent filing with the SEC. Institutional investors and hedge funds own 20.66% of the company’s stock.

Cool Stock Performance

NYSE:CLCO opened at $9.79 on Tuesday. The company’s 50-day moving average is $9.57 and its two-hundred day moving average is $7.96. Cool has a 1-year low of $4.51 and a 1-year high of $9.86. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.79 and a quick ratio of 0.77. The firm has a market capitalization of $525.72 million, a price-to-earnings ratio of 16.32 and a beta of 0.70.

Cool (NYSE:CLCO) last announced its quarterly earnings results on Thursday, November 20th. The company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.02. The firm had revenue of $86.31 million for the quarter, compared to analyst estimates of $84.71 million. Analysts forecast that Cool will post 1.68 EPS for the current year.

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.