Calumet (NASDAQ:CLMT) Share Price Crosses Above Two Hundred Day Moving Average - Time to Sell?

Key Points

• Calumet shares have crossed above their 200-day moving average, trading recently at $17.77, which raises questions about whether it is time to sell.
• The company reported a loss of $1.70 EPS for the last quarter, missing estimates, while revenues fell by 9.4% year-over-year.
• Analyst ratings vary, with a consensus target price of $18.71 and four analysts rating the stock as a Buy, indicating potential growth despite recent losses.

Calumet, Inc. (NASDAQ:CLMT - Get Free Report) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $13.86 and traded as high as $18.15. Calumet shares last traded at $17.77, with a volume of 830,069 shares trading hands.

Analyst Ratings Changes

A number of equities research analysts have weighed in on CLMT shares. Wells Fargo & Company dropped their price target on shares of Calumet from $23.00 to $21.00 and set an "overweight" rating for the company in a research report on Wednesday, May 14th. UBS Group lifted their price target on shares of Calumet from $12.00 to $13.25 and gave the company a "neutral" rating in a research report on Tuesday, August 12th. Finally, Bank of America started coverage on shares of Calumet in a research report on Tuesday, May 13th. They set a "buy" rating and a $15.00 price target for the company. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $18.71.

Calumet Stock Performance

The company has a market cap of $1.54 billion, a PE ratio of -3.40 and a beta of 0.97. The company's 50-day simple moving average is $15.89 and its 200 day simple moving average is $13.86.

Calumet (NASDAQ:CLMT - Get Free Report) last issued its quarterly earnings results on Friday, August 8th. The oil and gas company reported ($1.70) EPS for the quarter, missing the consensus estimate of ($0.44) by ($1.26). The business had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $982.88 million. During the same period in the previous year, the company earned ($0.48) earnings per share. The firm's revenue for the quarter was down 9.4% compared to the same quarter last year. Analysts forecast that Calumet, Inc. will post -3.02 EPS for the current year.

Insider Buying and Selling

In related news, SVP Gregory J. Morical sold 25,123 shares of Calumet stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $16.69, for a total value of $419,302.87. Following the completion of the transaction, the senior vice president owned 39,415 shares in the company, valued at $657,836.35. The trade was a 38.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jennifer Straumins sold 100,000 shares of Calumet stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $16.23, for a total transaction of $1,623,000.00. Following the completion of the transaction, the director owned 934,589 shares of the company's stock, valued at $15,168,379.47. This represents a 9.67% decrease in their position. The disclosure for this sale can be found here. Insiders sold 175,123 shares of company stock valued at $2,796,303 in the last quarter. 4.07% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in CLMT. Goldman Sachs Group Inc. lifted its stake in Calumet by 33.5% in the first quarter. Goldman Sachs Group Inc. now owns 465,269 shares of the oil and gas company's stock worth $5,900,000 after acquiring an additional 116,777 shares during the last quarter. Adams Asset Advisors LLC lifted its stake in Calumet by 0.9% in the second quarter. Adams Asset Advisors LLC now owns 5,406,271 shares of the oil and gas company's stock worth $85,176,000 after acquiring an additional 49,948 shares during the last quarter. Caldwell Sutter Capital Inc. lifted its stake in Calumet by 29.9% in the second quarter. Caldwell Sutter Capital Inc. now owns 19,483 shares of the oil and gas company's stock worth $307,000 after acquiring an additional 4,483 shares during the last quarter. Wasserstein Debt Opportunities Management L.P. lifted its position in shares of Calumet by 3.2% during the 2nd quarter. Wasserstein Debt Opportunities Management L.P. now owns 5,817,012 shares of the oil and gas company's stock worth $91,647,000 after buying an additional 180,197 shares during the last quarter. Finally, O Keefe Stevens Advisory Inc. lifted its position in shares of Calumet by 12.1% during the 2nd quarter. O Keefe Stevens Advisory Inc. now owns 26,817 shares of the oil and gas company's stock worth $423,000 after buying an additional 2,903 shares during the last quarter. Hedge funds and other institutional investors own 34.41% of the company's stock.

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.

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