Calumet Specialty Products Partners (NASDAQ:CLMT) Shares Down 5.9% – Here’s Why

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT)’s share price fell 5.9% during trading on Thursday . The company traded as low as $16.45 and last traded at $16.39. 247,632 shares traded hands during trading, a decline of 83% from the average session volume of 1,442,284 shares. The stock had previously closed at $17.41.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CLMT. StockNews.com upgraded Calumet Specialty Products Partners to a “sell” rating in a report on Monday, November 18th. TD Cowen dropped their price target on Calumet Specialty Products Partners from $27.00 to $26.00 and set a “buy” rating on the stock in a report on Monday, November 11th. Wells Fargo & Company boosted their target price on Calumet Specialty Products Partners from $25.00 to $29.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. HC Wainwright reiterated a “buy” rating and set a $33.00 price target on shares of Calumet Specialty Products Partners in a research note on Wednesday. Finally, UBS Group cut Calumet Specialty Products Partners from a “neutral” rating to a “sell” rating and lowered their price objective for the company from $20.50 to $15.00 in a research note on Tuesday, February 4th. Two investment analysts have rated the stock with a sell rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $23.60.

Calumet Specialty Products Partners Trading Down 5.6 %

The stock has a fifty day simple moving average of $19.48 and a two-hundred day simple moving average of $18.99. The firm has a market cap of $1.41 billion, a PE ratio of -5.96 and a beta of 1.88.

Insider Buying and Selling at Calumet Specialty Products Partners

In other Calumet Specialty Products Partners news, Director Jennifer Straumins sold 37,861 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $21.42, for a total value of $810,982.62. Following the sale, the director now owns 1,184,589 shares of the company’s stock, valued at $25,373,896.38. This trade represents a 3.10 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 2.91% of the company’s stock.

About Calumet Specialty Products Partners

Calumet, Inc engages in the manufacturing, formulating, and marketing of a diversified slate of specialty branded products and renewable fuels to customers across a broad range of consumer-facing and industrial markets. It operates through the following segments: Specialty Products & Solutions, Performance Brands, Montana/Renewables, and Corporate.