Caesarstone Ltd (NASDAQ:CSTE) Short Interest Update

Caesarstone Ltd (NASDAQ:CSTE) was the recipient of a significant decline in short interest in January. As of January 31st, there was short interest totalling 147,000 shares, a decline of 8.5% from the January 15th total of 160,700 shares. Currently, 0.6% of the shares of the stock are sold short. Based on an average daily trading volume, of 97,400 shares, the short-interest ratio is currently 1.5 days.

Shares of NASDAQ CSTE traded up $0.03 on Friday, hitting $11.65. The company’s stock had a trading volume of 188,100 shares, compared to its average volume of 103,826. Caesarstone has a 12-month low of $11.13 and a 12-month high of $17.85. The company has a market capitalization of $423.06 million, a price-to-earnings ratio of 27.09 and a beta of 1.50. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.35 and a quick ratio of 2.21. The stock has a 50 day moving average of $14.35 and a 200-day moving average of $15.40.

Caesarstone (NASDAQ:CSTE) last announced its quarterly earnings results on Wednesday, February 12th. The construction company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.09). Caesarstone had a net margin of 2.61% and a return on equity of 3.07%. The business had revenue of $133.87 million during the quarter, compared to analysts’ expectations of $138.99 million. Sell-side analysts expect that Caesarstone will post 0.58 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Global Alpha Capital Management Ltd. lifted its stake in shares of Caesarstone by 18.3% during the fourth quarter. Global Alpha Capital Management Ltd. now owns 1,294,645 shares of the construction company’s stock valued at $19,510,000 after buying an additional 200,520 shares during the period. Migdal Insurance & Financial Holdings Ltd. lifted its stake in shares of Caesarstone by 38.5% during the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 915,834 shares of the construction company’s stock valued at $13,802,000 after buying an additional 254,756 shares during the period. State Street Corp lifted its stake in shares of Caesarstone by 1.7% during the fourth quarter. State Street Corp now owns 485,451 shares of the construction company’s stock valued at $7,316,000 after buying an additional 7,951 shares during the period. Hotchkis & Wiley Capital Management LLC lifted its stake in shares of Caesarstone by 27.8% during the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 473,329 shares of the construction company’s stock valued at $7,133,000 after buying an additional 102,840 shares during the period. Finally, Renaissance Technologies LLC lifted its stake in shares of Caesarstone by 12.1% during the fourth quarter. Renaissance Technologies LLC now owns 306,766 shares of the construction company’s stock valued at $4,623,000 after buying an additional 33,006 shares during the period. 44.69% of the stock is currently owned by institutional investors and hedge funds.

Several analysts have issued reports on the stock. Stifel Nicolaus downgraded shares of Caesarstone from a “buy” rating to a “hold” rating and reduced their price target for the company from $19.00 to $12.00 in a report on Wednesday. Zacks Investment Research raised shares of Caesarstone from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 7th. Finally, BidaskClub downgraded shares of Caesarstone from a “sell” rating to a “strong sell” rating in a report on Tuesday, December 10th.

About Caesarstone

Caesarstone Ltd., together with its subsidiaries, manufactures and sells engineered quartz surfaces under the Caesarstone brand in the United States, Australia, Canada, Israel, Europe, and internationally. Its engineered quartz slabs are used as countertops in residential kitchens, as well as serve the renovation and remodeling market.

Further Reading: Asset Allocation, Balancing Your Investments

Receive News & Ratings for Caesarstone Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Caesarstone and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply