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 decline in short interest in the month of June. As of June 30th, there was short interest totalling 422,200 shares, a decline of 32.4% from the May 30th total of 624,100 shares. Based on an average trading volume of 178,100 shares, the short-interest ratio is presently 2.4 days. Currently, 0.7% of the shares of the company are sold short.

NASDAQ CLMT traded up $0.07 on Thursday, hitting $4.40. 112,400 shares of the company’s stock traded hands, compared to its average volume of 224,808. The company has a quick ratio of 0.82, a current ratio of 1.33 and a debt-to-equity ratio of 22.97. Calumet Specialty Products Partners, L.P has a 1-year low of $1.99 and a 1-year high of $7.95. The stock’s 50-day moving average price is $4.28. The firm has a market cap of $335.44 million, a price-to-earnings ratio of 14.67 and a beta of 1.76.

Calumet Specialty Products Partners, L.P (NASDAQ:CLMT) last announced its quarterly earnings data on Friday, May 10th. The oil and gas company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.35) by $0.30. Calumet Specialty Products Partners, L.P had a negative net margin of 0.93% and a positive return on equity of 73.33%. The business had revenue of $851.30 million during the quarter, compared to analysts’ expectations of $658.18 million. As a group, equities research analysts forecast that Calumet Specialty Products Partners, L.P will post 0.38 EPS for the current year.

Several analysts have commented on the stock. ValuEngine cut shares of Zosano Pharma from a “buy” rating to a “hold” rating in a research note on Wednesday, May 1st. Zacks Investment Research cut shares of HEXO from a “hold” rating to a “sell” rating in a research note on Wednesday, May 15th. Finally, BidaskClub cut shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Adams Asset Advisors LLC lifted its stake in shares of Calumet Specialty Products Partners, L.P by 11.0% in the 1st quarter. Adams Asset Advisors LLC now owns 3,527,128 shares of the oil and gas company’s stock valued at $12,556,000 after purchasing an additional 349,100 shares during the period. Intrinsic Edge Capital Management LLC acquired a new position in shares of Calumet Specialty Products Partners, L.P in the 4th quarter valued at $553,000. Fiera Capital Corp acquired a new position in shares of Calumet Specialty Products Partners, L.P in the 1st quarter valued at $78,000. Mercer Global Advisors Inc. ADV acquired a new position in shares of Calumet Specialty Products Partners, L.P in the 1st quarter valued at $76,000. Finally, Independent Advisor Alliance acquired a new position in shares of Calumet Specialty Products Partners, L.P in the 1st quarter valued at $75,000. Institutional investors and hedge funds own 14.56% of the company’s stock.

About Calumet Specialty Products Partners, L.P

Calumet Specialty Products Partners, L.P. produces and sells specialty hydrocarbon products in North America and internationally. It operates in two segments, Specialty Products and Fuel Products. The Specialty Products segment offers various lubricating oils, white mineral oils, solvents, petrolatums, waxes, synthetic lubricants, and other products which are used primarily as raw material components for basic automotive, industrial, and consumer goods.

Further Reading: Return on Investment (ROI)

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