Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT – Get Free Report) saw a significant growth in short interest in the month of August. As of August 31st, there was short interest totalling 2,350,000 shares, a growth of 9.8% from the August 15th total of 2,140,000 shares. Approximately 3.4% of the shares of the company are sold short. Based on an average daily volume of 493,900 shares, the days-to-cover ratio is currently 4.8 days.
Hedge Funds Weigh In On Calumet Specialty Products Partners
A number of hedge funds have recently bought and sold shares of the business. ICA Group Wealth Management LLC acquired a new stake in Calumet Specialty Products Partners during the fourth quarter worth about $116,000. Future Financial Wealth Managment LLC acquired a new stake in Calumet Specialty Products Partners during the first quarter worth about $119,000. Wedbush Securities Inc. acquired a new stake in Calumet Specialty Products Partners during the second quarter worth about $169,000. Deuterium Capital Management LLC acquired a new stake in Calumet Specialty Products Partners during the first quarter worth about $159,000. Finally, Mcintyre Freedman & Flynn Investment Advisers Inc. acquired a new stake in Calumet Specialty Products Partners during the first quarter worth about $171,000. 34.41% of the stock is owned by institutional investors.
Calumet Specialty Products Partners Stock Performance
NASDAQ:CLMT traded down $0.05 during mid-day trading on Wednesday, reaching $18.24. 1,455,647 shares of the company’s stock were exchanged, compared to its average volume of 279,357. Calumet Specialty Products Partners has a one year low of $9.97 and a one year high of $21.19. The firm has a market capitalization of $1.47 billion, a PE ratio of -260.57 and a beta of 1.92. The business’s fifty day simple moving average is $15.77 and its two-hundred day simple moving average is $15.64.
Wall Street Analyst Weigh In
Several equities analysts have recently weighed in on CLMT shares. TD Cowen dropped their price objective on shares of Calumet Specialty Products Partners from $20.00 to $18.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. StockNews.com started coverage on shares of Calumet Specialty Products Partners in a research report on Friday, September 13th. They issued a “hold” rating on the stock. HC Wainwright reissued a “buy” rating and issued a $25.00 price objective on shares of Calumet Specialty Products Partners in a research report on Monday, August 12th. Finally, The Goldman Sachs Group dropped their price objective on shares of Calumet Specialty Products Partners from $17.00 to $15.00 and set a “buy” rating on the stock in a research report on Monday, August 5th. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $19.33.
Check Out Our Latest Stock Analysis on Calumet Specialty Products Partners
About Calumet Specialty Products Partners
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.
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