Caesarstone (NASDAQ:CSTE) Share Price Passes Above Two Hundred Day Moving Average – What’s Next?

Caesarstone Ltd. (NASDAQ:CSTE) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $1.56 and traded as high as $1.79. Caesarstone shares last traded at $1.7350, with a volume of 56,535 shares.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Caesarstone in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has an average rating of “Sell”.

Caesarstone Trading Down 0.3%

The stock has a market cap of $59.94 million, a P/E ratio of -0.85 and a beta of -0.04. The business’s fifty day simple moving average is $1.35 and its 200 day simple moving average is $1.56.

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Simplex Trading LLC acquired a new stake in shares of Caesarstone in the 2nd quarter valued at $26,000. Pitcairn Co. bought a new position in Caesarstone in the second quarter valued at about $31,000. Quadrature Capital Ltd bought a new position in Caesarstone in the second quarter valued at about $36,000. Qube Research & Technologies Ltd acquired a new stake in Caesarstone in the second quarter worth about $56,000. Finally, Nuveen LLC bought a new stake in Caesarstone during the 1st quarter worth about $68,000. Institutional investors and hedge funds own 33.70% of the company’s stock.

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.