Caesarstone (NASDAQ:CSTE) Share Price Crosses Above 200 Day Moving Average – Here’s What Happened

Caesarstone Ltd. (NASDAQ:CSTE)’s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $1.65 and traded as high as $1.9450. Caesarstone shares last traded at $1.83, with a volume of 68,091 shares traded.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded 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, According to MarketBeat.com, Caesarstone presently has an average rating of “Sell”.

Caesarstone Trading Down 4.2%

The company has a market cap of $63.27 million, a price-to-earnings ratio of -0.43 and a beta of 0.38. The business has a fifty day moving average of $1.64 and a two-hundred day moving average of $1.65.

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

Institutional Investors Weigh In On Caesarstone

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Jane Street Group LLC acquired a new position in Caesarstone during the second quarter worth $263,000. GSA Capital Partners LLP purchased a new position in Caesarstone during the third quarter valued at $89,000. Citadel Advisors LLC grew its position in shares of Caesarstone by 163.7% in the third quarter. Citadel Advisors LLC now owns 63,589 shares of the construction company’s stock valued at $101,000 after purchasing an additional 39,474 shares during the period. Qube Research & Technologies Ltd acquired a new stake in shares of Caesarstone in the second quarter valued at about $56,000. Finally, Virtu Financial LLC purchased a new stake in shares of Caesarstone during the fourth quarter worth about $30,000. 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.