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

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT)’s share price 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 traded hands during mid-day trading, a decline of 83% from the average session volume of 1,442,284 shares. The stock had previously closed at $17.41.

Analysts Set New Price Targets

CLMT has been the topic of several research analyst reports. TD Cowen reduced their price target on shares of Calumet Specialty Products Partners from $27.00 to $26.00 and set a “buy” rating on the stock in a research report on Monday, November 11th. HC Wainwright reiterated a “buy” rating and issued a $33.00 target price on shares of Calumet Specialty Products Partners in a research report on Wednesday. UBS Group lowered shares of Calumet Specialty Products Partners from a “neutral” rating to a “sell” rating and lowered their target price for the company from $20.50 to $15.00 in a research note on Tuesday, February 4th. StockNews.com upgraded Calumet Specialty Products Partners to a “sell” rating in a research note on Monday, November 18th. Finally, Wells Fargo & Company raised their price target on shares of 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. Two analysts have rated the stock with a sell rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $23.60.

Calumet Specialty Products Partners Stock Performance

The company’s 50 day simple moving average is $19.27 and its two-hundred day simple moving average is $19.00. The stock has a market cap of $1.42 billion, a price-to-earnings ratio of -6.00 and a beta of 1.88.

Insider Activity

In related news, Director Jennifer Straumins sold 37,861 shares of Calumet Specialty Products Partners stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $21.42, for a total value of $810,982.62. Following the transaction, 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 legal filing with the SEC, which is available through 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.