10 Cheap Rising Stocks to Buy Right Now

2. Cool Company Ltd. (NYSE:CLCO)

30-day returns: 25.16%

Forward P/E ratio: 5.96

Cool Company Ltd. (NYSE:CLCO) is an LNG carrier, having a fleet of 13 vessels and a portfolio of short and long-term charters with some of the world’s leading oil, gas, trading, and utility companies. It is among the cheap rising stocks to buy right now.

On March 27, the company announced the initiation of a $40 million share repurchase program. Under the program, Cool Company Ltd. (NYSE:CLCO) may buy back up to 7,000,000 shares for a total amount up to $40 million, between April 1, 2025, and December 31, 2026. The purpose behind the program is to reduce the company’s outstanding shares, as the management believes they trade at a material discount.

On the same day, Cool Company Ltd. (NYSE:CLCO)’s board of directors granted Restricted Stock Units (RSUs) to primary insiders under the company’s Long-Term Incentive Program (LTIP). The board resolved to grant 205,871 RSUs to employees and management of CLCO, equivalent to around 0.38% of the company’s share capital.

Based on Cool Company Ltd. (NYSE:CLCO)’s historical reporting dates, the company is expected to report earnings for Q1 FY25 at some point in June. According to analysts, the consensus EPS forecast for the quarter is 28 cents.