Caesarstone (NASDAQ:CSTE) Share Price Passes Above 200-Day Moving Average – Should You Sell?

Caesarstone Ltd. (NASDAQ:CSTE)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $1.74 and traded as high as $2.26. Caesarstone shares last traded at $2.20, with a volume of 53,582 shares changing hands.

Analyst Ratings Changes

Separately, Wall Street Zen raised shares of Caesarstone from a “strong sell” rating to a “sell” rating in a report on Saturday, June 27th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Caesarstone currently has a consensus rating of “Sell”.

Caesarstone Stock Down 0.9%

The firm has a 50-day simple moving average of $2.00 and a 200-day simple moving average of $1.74. The stock has a market cap of $76.05 million, a PE ratio of -0.52 and a beta of 0.36.

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

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in CSTE. Citadel Advisors LLC boosted 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 acquiring an additional 39,474 shares during the period. Pitcairn Co. bought a new stake in Caesarstone during the 2nd quarter worth approximately $31,000. Jane Street Group LLC bought a new stake in Caesarstone during the 2nd quarter worth approximately $263,000. Qube Research & Technologies Ltd purchased a new stake in Caesarstone in the 2nd quarter worth approximately $56,000. Finally, Virtu Financial LLC purchased a new stake in Caesarstone in the 4th quarter worth approximately $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.