News Recap: Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT)

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) stock identified change of 121.95% away from 52-week low price and recently located move of -63.60% off 52-week high price. It has market worth of $144.65M. CLMT stock has been recorded -33.54% away from 50 day moving average and -49.94% away from 200 day moving average. Moving closer, we can see that shares have been trading 55.36% off 20-day moving average.

On April 9, 2020, Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) a leading independent producer of specialty hydrocarbon and fuels products, declared information regarding  the Partnership’s operations, in addition to updates to the Partnership’s balance sheet strength and liquidity position. Additionally, the Partnership provided updated guidance on 2020 capital budget expectations.

We continue to closely monitor the impacts of the COVID-19 pandemic, and our foremost concern is the safety of our employees and the communities we serve, said Steve Mawer, Chief Executive Officer of Calumet.  Our specialty and fuels production facilities have continued to operate with limited disruption across our supply chain. The federal guidelines and state orders put in place to protect the public have deemed our businesses as essential. Our products and formulations are vital to a diverse set of markets, from healthcare and personal care products, to food processing and water treatment. While the demand landscape remains uncertain, to date our businesses have not experienced a significant step down in customer demand.

Mawer continued, In early March, we implemented our business continuity plans, and our essential staff at the plants have remained on-site and are continuing production. The rest of our employees are supporting our production operations remotely. We continue to operate in accordance with the guidelines of federal, state and local government agencies, as well as public health organizations, to maintain a safe and healthy work environment for our employees. I want to thank all of our employees for their commitment and exemplary effort through this uncertain time as we work to meet the needs of our customers and our communities. While this is a challenging economic environment, the strategic actions that Calumet has taken over the past several years to reposition our portfolio with a core focus on specialty products and to improve business operations through self-help, have made our business more resilient, less volatile, and better positioned to succeed.

The Basic Materials sector company, Calumet Specialty Products Partners, L.P. noticed change of 66.97% to $1.82 along volume of 1466920 shares in recent session compared to an average volume of 299.19K. The stock observed return of 85.71% in 5 days trading activity. The stock was at -18.39% over one month performance. CLMT’s shares are at -57.77% for the quarter and driving a -52.36% return over the course of the past year and is now at -50.14% since this point in 2018.

The average volatility for the week at 18.92% and for month was at 22.31%. There are 79.48M shares outstanding and 61.62M shares are floated in market. Right now the stock beta is 2.41.

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