Cool (NYSE:CLCO) Reaches New 52-Week High – Should You Buy?

Cool Company Ltd. (NYSE:CLCO)’s share price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $9.86 and last traded at $9.85, with a volume of 21282 shares. The stock had previously closed at $9.84.

Analysts Set New Price Targets

A number of brokerages have issued reports on CLCO. Weiss Ratings reiterated a “hold (c-)” rating on shares of Cool in a research note on Wednesday, October 8th. Wall Street Zen lowered Cool from a “hold” rating to a “sell” rating in a research note on Friday, September 26th. Zacks Research cut Cool from a “hold” rating to a “strong sell” rating in a report on Friday, November 21st. Finally, B. Riley downgraded Cool from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 24th. Three research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Cool has an average rating of “Reduce”.

Cool Stock Up 0.1%

The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.77 and a current ratio of 0.79. The firm has a market capitalization of $527.60 million, a PE ratio of 16.38 and a beta of 0.69. The company has a fifty day moving average price of $9.74 and a 200-day moving average price of $8.39.

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

Institutional Investors Weigh In On Cool

A hedge fund recently raised its stake in Cool stock. Donald Smith & CO. Inc. boosted its stake in shares of Cool Company Ltd. (NYSE:CLCO) by 3.9% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm 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 approximately 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.