Caesarstone (NASDAQ:CSTE) Upgraded by Wall Street Zen to Sell Rating

Caesarstone (NASDAQ:CSTE) was upgraded by equities researchers at Wall Street Zen from a “strong sell” rating to a “sell” rating in a report released on Saturday.

Caesarstone Price Performance

Shares of NASDAQ:CSTE opened at $2.09 on Friday. The firm has a market capitalization of $72.25 million, a PE ratio of -0.50 and a beta of 0.38. The business has a 50-day moving average of $1.70 and a two-hundred day moving average of $1.66. Caesarstone has a 12 month low of $0.56 and a 12 month high of $2.58.

Caesarstone (NASDAQ:CSTE) last released its quarterly earnings data 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. The business 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 Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Empowered Funds LLC increased its stake in shares of Caesarstone by 10.7% in the first quarter. Empowered Funds LLC now owns 58,008 shares of the construction company’s stock worth $62,000 after buying an additional 5,584 shares during the last quarter. Pitcairn Co. bought a new position in Caesarstone during the 2nd quarter valued at $31,000. Virtu Financial LLC bought a new position in Caesarstone during the 4th quarter valued at $30,000. Qube Research & Technologies Ltd acquired a new position in Caesarstone during the 2nd quarter worth $56,000. Finally, Citadel Advisors LLC grew its holdings in Caesarstone by 163.7% during the 3rd quarter. Citadel Advisors LLC now owns 63,589 shares of the construction company’s stock worth $101,000 after acquiring an additional 39,474 shares in the last quarter. 33.70% of the stock is owned by institutional investors and hedge funds.

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.