Caesarstone (NASDAQ:CSTE) Shares Cross Above Two Hundred Day Moving Average – What’s Next?

Caesarstone Ltd. (NASDAQ:CSTE) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $1.62 and traded as high as $1.7908. Caesarstone shares last traded at $1.74, with a volume of 70,940 shares traded.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised shares of Caesarstone from a “strong sell” rating to a “sell” rating in a research report on Monday, May 25th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has a consensus rating of “Sell”.

Caesarstone Stock Up 0.6%

The company has a market capitalization of $60.15 million, a price-to-earnings ratio of -0.41 and a beta of 0.38. The company has a 50-day moving average price of $1.55 and a 200-day moving average price of $1.62.

Caesarstone (NASDAQ:CSTE) last announced its quarterly earnings data on Thursday, May 14th. The construction company reported ($0.32) earnings per share (EPS) for the quarter, topping 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 business had revenue of $88.71 million for the quarter, compared to the consensus estimate of $97.80 million.

Institutional Investors Weigh In On Caesarstone

A number of institutional investors have recently bought and sold shares of the business. Virtu Financial LLC acquired a new stake in Caesarstone during the fourth quarter worth $30,000. Citadel Advisors LLC boosted its stake in Caesarstone by 163.7% during the third 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 in the last quarter. GSA Capital Partners LLP acquired a new stake in Caesarstone during the third quarter worth $89,000. Pitcairn Co. acquired a new stake in Caesarstone during the second quarter worth $31,000. Finally, Jane Street Group LLC acquired a new stake in Caesarstone during the second quarter worth $263,000. 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.