Calumet, Inc. (NASDAQ:CLMT) Sees Large Decrease in Short Interest

Calumet, Inc. (NASDAQ:CLMT) was the target of a significant decline in short interest during the month of February. As of February 27th, there was short interest totaling 5,441,750 shares, a decline of 21.9% from the February 12th total of 6,970,191 shares. Approximately 6.5% of the company’s stock are short sold. Based on an average daily trading volume, of 1,328,374 shares, the short-interest ratio is presently 4.1 days. Based on an average daily trading volume, of 1,328,374 shares, the short-interest ratio is presently 4.1 days. Approximately 6.5% of the company’s stock are short sold.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. UBS Group reissued a “neutral” rating and issued a $26.00 price objective on shares of Calumet in a report on Friday, February 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Calumet in a report on Monday, December 29th. Wall Street Zen lowered Calumet from a “buy” rating to a “hold” rating in a research report on Sunday, December 14th. The Goldman Sachs Group raised their price objective on Calumet from $24.00 to $34.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, TD Cowen boosted their target price on shares of Calumet from $19.00 to $25.00 and gave the company a “hold” rating in a research note on Thursday, March 5th. Four investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $25.67.

Calumet Stock Down 0.5%

CLMT stock traded down $0.15 during midday trading on Friday, reaching $28.59. The company had a trading volume of 829,982 shares, compared to its average volume of 1,492,579. The firm has a market capitalization of $2.48 billion, a PE ratio of -73.31 and a beta of 1.18. The stock has a 50 day moving average price of $24.90 and a 200 day moving average price of $20.97. Calumet has a fifty-two week low of $7.68 and a fifty-two week high of $31.41.

Calumet (NASDAQ:CLMT) last announced its quarterly earnings results on Friday, February 27th. The oil and gas company reported ($0.43) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.67) by $0.24. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same quarter in the previous year, the company posted ($0.47) earnings per share. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. Research analysts predict that Calumet will post -3.02 EPS for the current year.

Institutional Investors Weigh In On Calumet

A number of hedge funds have recently added to or reduced their stakes in CLMT. Islay Capital Management LLC bought a new position in shares of Calumet during the fourth quarter worth about $25,000. Aster Capital Management DIFC Ltd boosted its position in shares of Calumet by 294.7% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,646 shares of the oil and gas company’s stock worth $33,000 after buying an additional 1,229 shares during the period. Global Retirement Partners LLC acquired a new position in shares of Calumet during the fourth quarter worth approximately $34,000. Covestor Ltd grew its holdings in Calumet by 29.1% in the 4th quarter. Covestor Ltd now owns 2,180 shares of the oil and gas company’s stock worth $43,000 after buying an additional 492 shares in the last quarter. Finally, CWM LLC increased its position in Calumet by 149,900.0% in the 4th quarter. CWM LLC now owns 3,000 shares of the oil and gas company’s stock valued at $60,000 after acquiring an additional 2,998 shares during the period. 34.41% of the stock is currently owned by institutional investors.

Calumet Company Profile

Calumet Specialty Products Partners, L.P. (NASDAQ: CLMT) is an independent provider of high-value, essential product solutions derived from both petroleum and renewable feedstocks. The company operates an integrated network of manufacturing plants, blending terminals and storage facilities across North America, delivering customized products and technical services to industrial, automotive, consumer and agricultural end markets. By leveraging its scale and technical expertise, Calumet tailors supply chain and formulation solutions to meet stringent regulatory and performance requirements.

Calumet’s product portfolio includes specialty lubricants and base oils for high-performance applications; process oils and waxes for food-grade, cosmetic and packaging uses; industrial solvents and cleaning solutions; and fuel additives designed to optimize engine performance and emissions.