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

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) was the target of a large increase in short interest in the month of July. As of July 31st, there was short interest totalling 1,620,000 shares, an increase of 29.6% from the July 15th total of 1,250,000 shares. Based on an average daily volume of 271,700 shares, the days-to-cover ratio is presently 6.0 days. Currently, 2.4% of the company’s shares are sold short.

Hedge Funds Weigh In On Calumet Specialty Products Partners

Several institutional investors have recently modified their holdings of CLMT. ICA Group Wealth Management LLC acquired a new stake in shares of Calumet Specialty Products Partners in the fourth quarter valued at $116,000. Future Financial Wealth Managment LLC acquired a new stake in Calumet Specialty Products Partners in the 1st quarter valued at about $119,000. PFG Investments LLC purchased a new position in shares of Calumet Specialty Products Partners in the 1st quarter valued at about $155,000. Deuterium Capital Management LLC acquired a new position in shares of Calumet Specialty Products Partners during the first quarter worth about $159,000. Finally, Wedbush Securities Inc. purchased a new stake in shares of Calumet Specialty Products Partners during the second quarter worth approximately $169,000. Institutional investors and hedge funds own 34.41% of the company’s stock.

Analysts Set New Price Targets

CLMT has been the topic of several research analyst reports. StockNews.com initiated coverage on shares of Calumet Specialty Products Partners in a report on Monday. They issued a “hold” rating on the stock. TD Cowen decreased 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 report on Monday. The Goldman Sachs Group dropped their target price on shares of 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. Finally, HC Wainwright reissued a “buy” rating and issued a $25.00 target price on shares of Calumet Specialty Products Partners in a research report on Monday. One analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $19.33.

Calumet Specialty Products Partners Stock Up 8.4 %

NASDAQ CLMT traded up $1.34 during trading on Thursday, hitting $17.29. The stock had a trading volume of 1,023,093 shares, compared to its average volume of 202,054. The company has a market capitalization of $1.39 billion, a PE ratio of -247.00 and a beta of 1.93. The firm has a 50 day moving average price of $15.00 and a 200 day moving average price of $15.41. Calumet Specialty Products Partners has a twelve month low of $9.97 and a twelve month high of $19.91.

Calumet Specialty Products Partners (NASDAQ:CLMT) last announced its quarterly earnings data on Friday, August 9th. The oil and gas company reported ($0.48) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.55) by $0.07. The business had revenue of $1.13 billion during the quarter, compared to analyst estimates of $889.17 million. During the same quarter last year, the firm posted ($0.19) EPS. The company’s revenue for the quarter was up 11.4% on a year-over-year basis. On average, sell-side analysts anticipate that Calumet Specialty Products Partners will post -1.9 earnings per share for the current year.

Calumet Specialty Products Partners Company Profile

Calumet Specialty Products Partners, L.P. 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; Performance brands; Montana/Renewables; and Corporate segments.