Caesarstone (NASDAQ:CSTE) Share Price Crosses Above 200-Day Moving Average – What’s Next?

Caesarstone Ltd. (NASDAQ:CSTE) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $1.59 and traded as high as $2.22. Caesarstone shares last traded at $2.18, with a volume of 38,113 shares trading hands.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on CSTE shares. Wall Street Zen cut Caesarstone to a “strong sell” rating in a report on Friday, January 23rd. Weiss Ratings restated a “sell (e+)” rating on shares of Caesarstone in a report on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, Caesarstone presently has a consensus rating of “Sell”.

Caesarstone Price Performance

The company has a fifty day moving average price of $1.84 and a 200 day moving average price of $1.59. The company has a market capitalization of $75.32 million, a P/E ratio of -1.07 and a beta of -0.09.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CSTE. Simplex Trading LLC purchased a new stake in shares of Caesarstone during the second quarter worth $26,000. Pitcairn Co. purchased a new position in Caesarstone in the second quarter valued at about $31,000. Quadrature Capital Ltd acquired a new position in Caesarstone in the 2nd quarter worth about $36,000. Qube Research & Technologies Ltd purchased a new stake in shares of Caesarstone during the 2nd quarter worth about $56,000. Finally, GSA Capital Partners LLP purchased a new stake in shares of Caesarstone during the 3rd quarter worth about $89,000. 33.70% of the stock is owned by hedge funds and other institutional investors.

Caesarstone Company Profile

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.