Caesarstone Ltd. (NASDAQ:CSTE) Short Interest Down 14.0% in January

Caesarstone Ltd. (NASDAQ:CSTE) was the target of a significant decline in short interest during the month of January. As of January 30th, there was short interest totaling 96,392 shares, a decline of 14.0% from the January 15th total of 112,113 shares. Based on an average daily volume of 113,038 shares, the days-to-cover ratio is currently 0.9 days. Approximately 0.3% of the company’s stock are short sold. Approximately 0.3% of the company’s stock are short sold. Based on an average daily volume of 113,038 shares, the days-to-cover ratio is currently 0.9 days.

Institutional Investors Weigh In On Caesarstone

A number of institutional investors and hedge funds have recently modified their holdings of CSTE. Y Intercept Hong Kong Ltd acquired a new position in Caesarstone in the 2nd quarter worth approximately $212,000. Citadel Advisors LLC boosted its holdings in shares of Caesarstone by 163.7% in the 3rd quarter. Citadel Advisors LLC now owns 63,589 shares of the construction company’s stock valued at $101,000 after acquiring an additional 39,474 shares during the last quarter. GSA Capital Partners LLP acquired a new stake in shares of Caesarstone in the third quarter worth $89,000. Pitcairn Co. purchased a new position in shares of Caesarstone during the second quarter worth $31,000. Finally, Jane Street Group LLC purchased a new position in shares of Caesarstone during the second quarter worth $263,000. Institutional investors and hedge funds own 33.70% of the company’s stock.

Analysts Set New Price Targets

Separately, Wall Street Zen cut Caesarstone to a “strong sell” rating in a research report on Friday, January 23rd. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has a consensus rating of “Sell”.

Caesarstone Price Performance

Shares of CSTE opened at $1.99 on Thursday. The firm has a market capitalization of $68.75 million, a PE ratio of -0.98 and a beta of -0.09. Caesarstone has a 1-year low of $0.86 and a 1-year high of $4.02. The company’s fifty day moving average price is $2.02 and its 200-day moving average price is $1.62.

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.