Calumet Inc (NASDAQ:CLMT) price on Friday, December 27, rose 2.77% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $21.17.
A look at the stock’s price movement, the close in the last trading session was $20.60, moving within a range at $20.44 and $21.41. The beta value (5-Year monthly) was 1.906. Turning to its 52-week performance, $25.29 and $9.97 were the 52-week high and 52-week low respectively. Overall, CLMT moved -5.49% over the past month.
Calumet Inc’s market cap currently stands at around $1.82 billion, with investors looking forward to this quarter’s earnings report slated for in January.
Analysts have a consensus estimate of 926.61M for the company’s revenue for the quarter, with a low and high estimate of 830.4M and 989.95M respectively. The average forecast suggests down to a -5.11% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 4.17B, representing a -0.34% decline on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that CLMT is a 50% Buy. On the other hand, the stock is on average a 50% Buy as suggested by medium term indicators while long term indicators are putting the stock in 100% Buy category.
2 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 1 analyst(s) rate the stock as a Hold, 1 recommend CLMT as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
CLMT’s current price about -0.95% and -0.18% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 50.64, while 7-day volatility ratio is 5.41% and 5.58% in the 30-day chart. Further, Calumet Inc (CLMT) has a beta value of 1.91, and an average true range (ATR) of 1.17. Analysts have given the company’s stock an average 52-week price target of $22.35, forecast between a low of $15.7 and high of $29. Looking at the price targets, the low is 25.84% off current price level while to achieve the yearly target high, price needs to move -36.99%. Nonetheless, investors will most likely welcome a -5.57% jump to $22.35 which is the analysts’ median price.
If we refocus on Calumet Inc (NASDAQ:CLMT), historical trading data shows that trading volumes averaged 0.81 over the past 10 days and 725.90K over the past 3 months. The company’s latest data on shares outstanding shows there are 85.90 million shares.
The 19.64% of Calumet Inc’s shares are in the hands of company insiders while institutional holders own 36.57% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 5.37 million on 2024-11-29, giving us a short ratio of 7.59. The data shows that as of 2024-11-29 short interest in Calumet Inc (CLMT) stood at 751.00005 of shares outstanding, with shares short falling to 5.45 million registered in 2024-10-31. Current price change has pushed the stock 18.47% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the CLMT stock continues to rise going into the next quarter.
