Caesarstone Ltd. (NASDAQ:CSTE – Get Free Report)’s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $1.72 and traded as high as $2.58. Caesarstone shares last traded at $2.44, with a volume of 135,997 shares traded.
Wall Street Analysts Forecast Growth
Separately, Wall Street Zen upgraded shares of Caesarstone from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 27th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has an average rating of “Sell”.
Read Our Latest Stock Analysis on Caesarstone
Caesarstone Stock Performance
Caesarstone (NASDAQ:CSTE – Get Free Report) last released its quarterly earnings results on Thursday, May 14th. The construction company reported ($0.32) EPS for the quarter, topping the consensus estimate of ($0.35) by $0.03. Caesarstone had a negative return on equity of 29.41% and a negative net margin of 37.70%.The business had revenue of $88.71 million during the quarter, compared to analysts’ expectations of $97.80 million.
Institutional Inflows and Outflows
Several large investors have recently added to or reduced their stakes in the company. Jane Street Group LLC purchased a new stake in Caesarstone in the 2nd quarter valued at approximately $263,000. Citadel Advisors LLC increased its position in Caesarstone by 163.7% during the 3rd quarter. Citadel Advisors LLC now owns 63,589 shares of the construction company’s stock worth $101,000 after purchasing an additional 39,474 shares during the period. Qube Research & Technologies Ltd purchased a new position in shares of Caesarstone during the 2nd quarter worth approximately $56,000. Pitcairn Co. purchased a new position in shares of Caesarstone during the 2nd quarter worth approximately $31,000. Finally, Virtu Financial LLC acquired a new stake in shares of Caesarstone in the 4th quarter valued at approximately $30,000. 33.70% of the stock is owned by hedge funds and other institutional investors.
About Caesarstone
Caesarstone Ltd. is an Israel-based manufacturer specializing in engineered quartz surfaces for residential and commercial applications. The company’s core business centers on the design, production and marketing of quartz slabs and tiles used for kitchen countertops, bathroom vanities, flooring and wall cladding. Caesarstone’s products combine natural quartz with resins and pigments to deliver durable, low-maintenance surfaces known for their aesthetic versatility and resistance to scratches, stains and heat.
Founded in 1987 and headquartered at Kibbutz Sdot Yam, Israel, Caesarstone has grown into a global brand with distribution in over 50 countries.
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