Calumet Specialty Products Partners (NASDAQ:CLMT) Trading Down 5.9% – Here’s What Happened

Shares of Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) fell 5.9% during mid-day trading on Thursday . The company traded as low as $16.45 and last traded at $16.39. 247,632 shares changed 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

Several analysts have issued reports on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $33.00 price target on shares of Calumet Specialty Products Partners in a report on Wednesday. Wells Fargo & Company raised their price target on Calumet Specialty Products Partners from $25.00 to $29.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. UBS Group downgraded Calumet Specialty Products Partners from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $20.50 to $15.00 in a research report on Tuesday, February 4th. TD Cowen dropped their price objective on Calumet Specialty Products Partners from $27.00 to $26.00 and set a “buy” rating for the company in a research report on Monday, November 11th. Finally, StockNews.com raised shares of Calumet Specialty Products Partners to a “sell” rating in a research note on Monday, November 18th. Two investment analysts have rated the stock with a sell rating and four have given a buy rating to the company’s stock. According to MarketBeat, Calumet Specialty Products Partners currently has an average rating of “Hold” and an average price target of $23.60.

Calumet Specialty Products Partners Stock Performance

The firm has a fifty day moving average of $19.27 and a 200 day moving average of $19.00. The firm has a market capitalization of $1.42 billion, a PE ratio of -6.00 and a beta of 1.88.

Insider Transactions 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 that occurred on Wednesday, December 18th. The stock was sold at an average price of $21.42, for a total transaction of $810,982.62. Following the completion of the sale, the director now owns 1,184,589 shares in the company, valued at $25,373,896.38. This trade represents a 3.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.91% of the company’s stock.

Calumet Specialty Products Partners Company Profile

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.