Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) Short Interest Update

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) saw a significant growth in short interest in the month of October. As of October 15th, there was short interest totalling 5,630,000 shares, a growth of 7.0% from the September 30th total of 5,260,000 shares. Approximately 8.2% of the shares of the company are short sold. Based on an average trading volume of 858,100 shares, the days-to-cover ratio is currently 6.6 days.

Calumet Specialty Products Partners Stock Performance

Shares of NASDAQ CLMT traded up $0.98 during mid-day trading on Wednesday, reaching $21.11. 352,838 shares of the company’s stock were exchanged, compared to its average volume of 372,061. The firm has a market capitalization of $1.70 billion, a price-to-earnings ratio of -287.57 and a beta of 1.92. Calumet Specialty Products Partners has a 52-week low of $9.97 and a 52-week high of $25.29. The company’s 50-day moving average is $18.97 and its 200-day moving average is $16.65.

Calumet Specialty Products Partners (NASDAQ:CLMT) last released its quarterly earnings results on Friday, August 9th. The oil and gas company reported ($0.48) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.55) by $0.07. The business had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $889.17 million. The business’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.19) earnings per share. As a group, equities analysts predict that Calumet Specialty Products Partners will post -1.97 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Calumet Specialty Products Partners

Hedge funds have recently bought and sold shares of the company. Deuterium Capital Management LLC acquired a new position in Calumet Specialty Products Partners during the 1st quarter worth about $159,000. Wedbush Securities Inc. acquired a new stake in Calumet Specialty Products Partners in the 2nd quarter valued at about $169,000. Sapient Capital LLC raised its position in Calumet Specialty Products Partners by 9.5% in the 2nd quarter. Sapient Capital LLC now owns 11,501 shares of the oil and gas company’s stock valued at $185,000 after purchasing an additional 1,000 shares in the last quarter. J.W. Cole Advisors Inc. raised its position in Calumet Specialty Products Partners by 4.3% in the 1st quarter. J.W. Cole Advisors Inc. now owns 20,600 shares of the oil and gas company’s stock valued at $306,000 after purchasing an additional 850 shares in the last quarter. Finally, GSA Capital Partners LLP acquired a new stake in Calumet Specialty Products Partners in the 1st quarter valued at about $493,000. Institutional investors and hedge funds own 34.41% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. HC Wainwright restated a “buy” rating and issued a $25.00 target price on shares of Calumet Specialty Products Partners in a report on Thursday, October 17th. StockNews.com assumed coverage on Calumet Specialty Products Partners in a report on Wednesday, October 23rd. They issued a “sell” rating for the company. The Goldman Sachs Group dropped their target price on Calumet Specialty Products Partners from $17.00 to $15.00 and set a “buy” rating for the company in a report on Monday, August 5th. Wells Fargo & Company increased their price target on Calumet Specialty Products Partners from $25.00 to $29.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Finally, TD Cowen increased their price target on Calumet Specialty Products Partners from $22.00 to $27.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.00.

Calumet Specialty Products Partners Company Profile

Calumet, Inc manufactures, formulates, and markets a diversified slate of specialty branded products and renewable fuels to various consumer-facing and industrial markets in North America and internationally. It operates through Specialty Products and Solutions; Montana/Renewables; and Performance brands segments.