Caesarstone (NASDAQ:CSTE) Shares Cross Below 200 Day Moving Average – What’s Next?

Shares of Caesarstone Ltd. (NASDAQ:CSTE – Get Free Report) crossed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $2.09 and traded as low as $1.60. Caesarstone shares last traded at $1.69, with a volume of 377,625 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Caesarstone in a research note on Thursday, August 6th. Wall Street Zen raised shares of Caesarstone from a “strong sell” rating to a “hold” rating in a research note on Saturday, August 8th. One investment analyst has rated the stock with a Sell rating. According to MarketBeat, the company presently has an average rating of “Sell”.

Check Out Our Latest Stock Analysis on Caesarstone

Caesarstone Trading Down 31.9%

The company has a 50-day simple moving average of $2.85 and a 200 day simple moving average of $2.09. The company has a market cap of $58.46 million, a P/E ratio of -0.41 and a beta of 0.41.

Caesarstone (NASDAQ:CSTE – Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The construction company reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.26) by $0.16. The firm had revenue of $96.55 million during the quarter, compared to analyst estimates of $102.50 million. Caesarstone had a negative return on equity of 32.36% and a negative net margin of 37.37%.

Institutional Trading of Caesarstone

A hedge fund recently raised its position in Caesarstone stock. Empowered Funds LLC boosted its stake in shares of Caesarstone Ltd. (NASDAQ:CSTE – Free Report) by 10.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 58,008 shares of the construction company’s stock after acquiring an additional 5,584 shares during the quarter. Empowered Funds LLC owned 0.17% of Caesarstone worth $62,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 33.70% of the company’s stock.

Caesarstone Company Profile

(Get Free Report)

Caesarstone Ltd. (NASDAQ: CSTE) is a manufacturer and distributor of engineered surfaces used primarily in residential and commercial construction and remodeling. The company is best known for quartz surfaces designed for kitchen countertops, bathroom vanities and other interior applications.

Its product portfolio also includes porcelain and natural stone surfaces, along with related designs for wall cladding, flooring, tables and outdoor areas. Caesarstone markets its products through distributors, fabricators, retailers, kitchen and bath specialists, and other building-materials channels.

Founded in 1987 and headquartered in Israel, Caesarstone serves customers in markets around the world, including North America, Australia, Europe and other international regions.

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