Calumet, Inc. (NASDAQ:CLMT) Short Interest Up 21.1% in February

Calumet, Inc. (NASDAQ:CLMT) was the recipient of a large growth in short interest during the month of February. As of February 13th, there was short interest totaling 6,970,191 shares, a growth of 21.1% from the January 29th total of 5,755,371 shares. Based on an average daily volume of 1,580,686 shares, the short-interest ratio is currently 4.4 days. Currently, 8.4% of the shares of the stock are sold short. Currently, 8.4% of the shares of the stock are sold short. Based on an average daily volume of 1,580,686 shares, the short-interest ratio is currently 4.4 days.

Analysts Set New Price Targets

Several research firms have recently weighed in on CLMT. Zacks Research raised shares of Calumet from a “strong sell” rating to a “hold” rating in a report on Thursday, November 6th. 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 lifted their price objective on Calumet from $20.00 to $24.00 and gave the company a “buy” rating in a research report on Friday, January 30th. UBS Group reissued a “neutral” rating and issued a $26.00 price objective on shares of Calumet in a research note on Friday, February 13th. Finally, HC Wainwright restated a “buy” rating and issued a $33.00 target price on shares of Calumet in a research note on Monday, November 10th. Four research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Calumet currently has an average rating of “Hold” and an average target price of $22.83.

Calumet Stock Up 1.8%

Shares of CLMT opened at $27.89 on Wednesday. The stock’s fifty day simple moving average is $23.36 and its 200-day simple moving average is $20.19. The firm has a market capitalization of $2.42 billion, a PE ratio of -71.51 and a beta of 1.18. Calumet has a 12-month low of $7.68 and a 12-month high of $30.35.

Calumet (NASDAQ:CLMT) last announced its quarterly earnings data on Friday, February 27th. The oil and gas company reported ($0.43) EPS for the quarter, topping analysts’ consensus estimates of ($0.67) by $0.24. The firm had revenue of ($3,098.50) million during the quarter, compared to analyst estimates of $1.04 billion. Calumet’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.47) earnings per share. Analysts anticipate that Calumet will post -3.02 EPS for the current year.

Hedge Funds Weigh In On Calumet

Several large investors have recently bought and sold shares of the business. Two Seas Capital LP boosted its stake in Calumet by 56.9% in the second quarter. Two Seas Capital LP now owns 4,497,609 shares of the oil and gas company’s stock valued at $70,860,000 after acquiring an additional 1,631,098 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Calumet by 112.4% in the 2nd quarter. Geode Capital Management LLC now owns 1,704,670 shares of the oil and gas company’s stock worth $26,860,000 after purchasing an additional 901,933 shares during the last quarter. AYAL Capital Advisors Ltd acquired a new stake in shares of Calumet during the second quarter worth $5,278,000. Mariner LLC increased its holdings in Calumet by 959.6% in the third quarter. Mariner LLC now owns 369,408 shares of the oil and gas company’s stock valued at $6,742,000 after purchasing an additional 334,544 shares during the last quarter. Finally, Marshall Wace LLP lifted its stake in Calumet by 35.8% in the third quarter. Marshall Wace LLP now owns 891,390 shares of the oil and gas company’s stock valued at $16,268,000 after buying an additional 234,766 shares during the period. 34.41% of the stock is currently owned by institutional investors and hedge funds.

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.