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

Shares of Caesarstone Ltd. (NASDAQ:CSTE) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $1.66 and traded as high as $2.14. Caesarstone shares last traded at $2.09, with a volume of 262,067 shares.

Wall Street Analysts Forecast Growth

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

Caesarstone Trading Up 8.3%

The stock has a 50 day moving average of $1.70 and a 200-day moving average of $1.66. The stock has a market capitalization of $72.25 million, a P/E ratio of -0.50 and a beta of 0.38.

Caesarstone (NASDAQ:CSTE) last announced 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 the consensus estimate of $97.80 million. Caesarstone had a negative return on equity of 29.41% and a negative net margin of 37.70%.

Institutional Trading of Caesarstone

A number of large investors have recently made changes to their positions in the stock. Virtu Financial LLC bought a new position in shares of Caesarstone in the fourth quarter worth about $30,000. Pitcairn Co. bought a new stake in Caesarstone during the 2nd quarter valued at about $31,000. Qube Research & Technologies Ltd purchased a new stake in Caesarstone in the 2nd quarter valued at about $56,000. Empowered Funds LLC boosted its position in Caesarstone by 10.7% in the 1st quarter. Empowered Funds LLC now owns 58,008 shares of the construction company’s stock valued at $62,000 after buying an additional 5,584 shares during the period. Finally, GSA Capital Partners LLP purchased a new stake in Caesarstone in the 3rd quarter valued at about $89,000. 33.70% of the stock is owned by hedge funds and other institutional investors.

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.