Caesarstone (NASDAQ:CSTE) Raised to “Sell” at Wall Street Zen

Caesarstone (NASDAQ:CSTE) was upgraded by investment analysts at Wall Street Zen from a “strong sell” rating to a “sell” rating in a note issued to investors on Monday.

Caesarstone Price Performance

Caesarstone stock opened at $1.93 on Monday. The company has a market capitalization of $66.72 million, a P/E ratio of -0.46 and a beta of 0.23. The stock’s 50 day moving average is $1.33 and its 200 day moving average is $1.55. Caesarstone has a twelve month low of $0.56 and a twelve month high of $2.58.

Caesarstone (NASDAQ:CSTE) last posted its quarterly earnings results on Thursday, May 14th. The construction company reported ($0.32) earnings per share for the quarter, topping the consensus estimate of ($0.35) by $0.03. The company had revenue of $88.71 million for the quarter, compared to the consensus estimate of $97.80 million. Caesarstone had a negative return on equity of 29.41% and a negative net margin of 37.70%.

Institutional Trading of Caesarstone

Several hedge funds and other institutional investors have recently made changes to their positions in CSTE. Virtu Financial LLC purchased a new stake in shares of Caesarstone in the 4th quarter worth approximately $30,000. Pitcairn Co. purchased a new stake in shares of Caesarstone in the 2nd quarter worth approximately $31,000. Qube Research & Technologies Ltd purchased a new stake in shares of Caesarstone in the 2nd quarter worth approximately $56,000. GSA Capital Partners LLP purchased a new stake in shares of Caesarstone in the 3rd quarter worth approximately $89,000. Finally, Citadel Advisors LLC grew its stake 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 worth $101,000 after buying an additional 39,474 shares during the last quarter. Hedge funds and other institutional investors 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.