Caesarstone (NASDAQ:CSTE) Shares Cross Above 200-Day Moving Average – Time to Sell?

Caesarstone Ltd. (NASDAQ:CSTE)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $1.59 and traded as high as $1.8450. Caesarstone shares last traded at $1.78, with a volume of 194,574 shares.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded shares of Caesarstone from a “strong sell” rating to a “sell” rating in a report on Monday, May 25th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, Caesarstone has an average rating of “Sell”.

Caesarstone Price Performance

The stock has a market cap of $61.53 million, a price-to-earnings ratio of -0.42 and a beta of 0.37. The company’s fifty day moving average price is $1.47 and its 200-day moving average price is $1.59.

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

Hedge Funds Weigh In On Caesarstone

Several hedge funds have recently modified their holdings of the stock. Jane Street Group LLC acquired a new position in shares of Caesarstone during the second quarter valued at about $263,000. Citadel Advisors LLC increased its holdings in 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 period. GSA Capital Partners LLP acquired a new position in Caesarstone in the 3rd quarter worth approximately $89,000. Qube Research & Technologies Ltd acquired a new position in Caesarstone in the 2nd quarter worth approximately $56,000. Finally, Virtu Financial LLC acquired a new position in Caesarstone in the 4th quarter worth approximately $30,000. 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.