Calumet (NASDAQ:CLMT) Share Price Breaks Below Two Hundred Day Moving Average – Should You Sell?

Shares of Calumet, Inc. (NASDAQ:CLMT) crossed below its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of $39.07 and traded as low as $35.88. Calumet shares last traded at $36.06, with a volume of 3,021,712 shares traded.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CLMT. The Goldman Sachs Group reiterated a “neutral” rating and set a $57.00 target price on shares of Calumet in a research report on Wednesday, October 21st. Weiss Ratings reissued a “sell (d-)” rating on shares of Calumet in a report on Wednesday, November 4th. Zacks Research cut shares of Calumet from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 3rd. HC Wainwright lifted their target price on shares of Calumet from $60.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, September 2nd. Finally, UBS Group boosted their target price on shares of Calumet from $26.00 to $47.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 25th. Two equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $54.75.

Calumet Price Performance

The stock has a 50 day moving average price of $53.18 and a 200-day moving average price of $39.07. The stock has a market capitalization of $3.17 billion, a price-to-earnings ratio of -16.03, a price-to-earnings-growth ratio of 0.70 and a beta of 0.65.

Calumet (NASDAQ:CLMT) last announced its quarterly earnings data on Friday, November 6th. The oil and gas company reported $2.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $1.28. The business had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.34 billion. The firm’s revenue was up 56.1% on a year-over-year basis. During the same period in the prior year, the company posted $3.61 EPS. As a group, research analysts forecast that Calumet, Inc. will post 1.28 earnings per share for the current year.

Institutional Trading of Calumet

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Farther Finance Advisors LLC raised its position in shares of Calumet by 8,950.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 905 shares of the oil and gas company’s stock valued at $47,000 after buying an additional 895 shares during the period. GAMMA Investing LLC lifted its holdings in Calumet by 63.3% in the third quarter. GAMMA Investing LLC now owns 926 shares of the oil and gas company’s stock valued at $49,000 after acquiring an additional 359 shares during the last quarter. Nykredit A S purchased a new position in Calumet in the second quarter worth approximately $57,000. Global Retirement Partners LLC purchased a new position in Calumet in the second quarter worth approximately $61,000. Finally, KBC Group NV acquired a new stake in Calumet during the first quarter worth $69,000. Institutional investors and hedge funds own 34.41% of the company’s stock.

About Calumet

Calumet, Inc is a U.S.-based producer of specialty hydrocarbon products, renewable fuels and conventional fuels. Its products serve customers in industries such as manufacturing, transportation, energy and consumer goods.

The company’s specialty products include lubricating oils, solvents, waxes, petrolatums and asphalt. It also produces gasoline, diesel and other fuels, and through its Montana Renewables business makes lower-carbon fuels, including sustainable aviation fuel and renewable diesel.

Headquartered in Indianapolis, Indiana, Calumet operates manufacturing facilities in the United States and supplies customers across North America and in international markets.