Calumet (NASDAQ:CLMT) Stock Price Crosses Above 200 Day Moving Average – Here’s What Happened

Calumet, Inc. (NASDAQ:CLMT)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $15.03 and traded as high as $16.12. Calumet shares last traded at $15.79, with a volume of 711,518 shares trading hands.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CLMT. HC Wainwright restated a “buy” rating and set a $33.00 price target on shares of Calumet in a research note on Monday, March 3rd. The Goldman Sachs Group dropped their price target on Calumet from $16.00 to $14.00 and set a “buy” rating for the company in a research note on Wednesday, April 30th. UBS Group raised Calumet from a “sell” rating to a “neutral” rating and decreased their price objective for the stock from $15.00 to $12.00 in a report on Monday, March 17th. Wells Fargo & Company lowered their target price on Calumet from $23.00 to $21.00 and set an “overweight” rating for the company in a research report on Wednesday, May 14th. Finally, Bank of America assumed coverage on Calumet in a report on Tuesday, May 13th. They set a “buy” rating and a $15.00 price target on the stock. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $18.50.

Calumet Stock Down 0.4%

The business has a 50 day simple moving average of $13.04 and a two-hundred day simple moving average of $15.03. The firm has a market cap of $1.36 billion, a PE ratio of -3.95 and a beta of 0.91.

Calumet (NASDAQ:CLMT) last posted its quarterly earnings results on Friday, May 9th. The oil and gas company reported ($1.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.62). The firm had revenue of $993.90 million during the quarter, compared to analyst estimates of $899.62 million. During the same quarter last year, the firm earned ($0.51) earnings per share. The company’s quarterly revenue was down 1.2% on a year-over-year basis. Equities analysts forecast that Calumet, Inc. will post -3.02 earnings per share for the current year.

Insider Activity at Calumet

In other news, SVP Gregory J. Morical sold 25,123 shares of the stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $16.69, for a total transaction of $419,302.87. Following the sale, the senior vice president now directly owns 39,415 shares of the company’s stock, valued at $657,836.35. This represents a 38.93% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Stephen P. Mawer sold 3,655 shares of Calumet stock in a transaction that occurred on Tuesday, April 22nd. The stock was sold at an average price of $9.29, for a total value of $33,954.95. Following the completion of the sale, the director now directly owns 283,652 shares in the company, valued at $2,635,127.08. This represents a 1.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 278,778 shares of company stock valued at $4,147,258 over the last quarter. 4.07% of the stock is owned by corporate insiders.

Calumet 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.