Caesarstone (NASDAQ:CSTE) Stock Passes Above Two Hundred Day Moving Average – Should You Sell?

Caesarstone Ltd. (NASDAQ:CSTE)’s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $1.56 and traded as high as $1.72. Caesarstone shares last traded at $1.65, with a volume of 109,162 shares changing hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Caesarstone in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has a consensus rating of “Sell”.

Caesarstone Price Performance

The stock has a market capitalization of $57.01 million, a PE ratio of -0.81 and a beta of -0.04. The company has a 50 day moving average price of $1.32 and a 200-day moving average price of $1.56.

Caesarstone (NASDAQ:CSTE) last issued its quarterly earnings data on Wednesday, November 12th. The construction company reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.29) by ($0.11). The company had revenue of $102.11 million during the quarter, compared to analysts’ expectations of $97.60 million. Caesarstone had a negative return on equity of 19.35% and a negative net margin of 18.44%.

Institutional Investors Weigh In On Caesarstone

A number of institutional investors have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. raised its holdings in Caesarstone by 19.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 57,766 shares of the construction company’s stock worth $140,000 after buying an additional 9,403 shares during the last quarter. Simplex Trading LLC purchased a new position in shares of Caesarstone in the 2nd quarter worth $26,000. Pitcairn Co. bought a new position in shares of Caesarstone in the 2nd quarter worth approximately $31,000. Quadrature Capital Ltd bought a new stake in shares of Caesarstone during the 2nd quarter valued at $36,000. Finally, Nuveen LLC bought a new position in shares of Caesarstone in the first quarter worth about $68,000. 33.70% of the stock is owned by hedge funds and other institutional investors.

About Caesarstone

Caesarstone Ltd., together with its subsidiaries, designs, develops, manufactures, and markets engineered stone and other materials under the Caesarstone brand in the United States, Canada, Latin America, Australia, Asia, Europe, the Middle East and Africa, and Israel. The company’s engineered stone slabs are primarily used as indoor and outdoor kitchen countertops in the renovation and remodeling, and residential construction sectors.