Calumet Specialty Products Partners, L.P (NASDAQ:CLMT) Sees Significant Increase in Short Interest

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Calumet Specialty Products Partners, L.P (NASDAQ:CLMT) saw a significant growth in short interest in the month of August. As of August 31st, there was short interest totalling 561,800 shares, a growth of 6.1% from the July 31st total of 529,600 shares. Currently, 0.9% of the shares of the company are sold short. Based on an average daily volume of 177,300 shares, the short-interest ratio is currently 3.2 days.

CLMT has been the subject of a number of research reports. Zacks Investment Research downgraded shares of Calumet Specialty Products Partners, L.P from a “buy” rating to a “hold” rating in a research report on Friday, August 9th. BidaskClub upgraded shares of Calumet Specialty Products Partners, L.P from a “sell” rating to a “hold” rating in a research report on Tuesday, September 10th.

NASDAQ CLMT traded up $0.08 on Monday, reaching $4.44. 2,560 shares of the company’s stock traded hands, compared to its average volume of 114,392. The firm has a market cap of $338.89 million, a price-to-earnings ratio of 14.53 and a beta of 1.84. The stock has a 50 day moving average price of $4.21 and a 200-day moving average price of $4.04. Calumet Specialty Products Partners, L.P has a fifty-two week low of $1.99 and a fifty-two week high of $6.75. The company has a debt-to-equity ratio of 28.38, a quick ratio of 0.75 and a current ratio of 1.23.

Calumet Specialty Products Partners, L.P (NASDAQ:CLMT) last posted its earnings results on Thursday, August 8th. The oil and gas company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.17. The company had revenue of $896.90 million during the quarter, compared to the consensus estimate of $763.05 million. Calumet Specialty Products Partners, L.P had a net margin of 0.05% and a return on equity of 90.99%. As a group, equities research analysts anticipate that Calumet Specialty Products Partners, L.P will post 0.13 EPS for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of Montreal Can purchased a new position in Calumet Specialty Products Partners, L.P in the second quarter valued at $32,000. Janney Montgomery Scott LLC purchased a new position in Calumet Specialty Products Partners, L.P in the first quarter valued at $37,000. Acadian Asset Management LLC purchased a new position in Calumet Specialty Products Partners, L.P in the second quarter valued at $61,000. Independent Advisor Alliance purchased a new position in Calumet Specialty Products Partners, L.P in the first quarter valued at $75,000. Finally, Fiera Capital Corp purchased a new position in Calumet Specialty Products Partners, L.P in the first quarter valued at $78,000. 14.08% of the stock is owned by institutional investors.

Calumet Specialty Products Partners, L.P Company Profile

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.

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