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

Shares of Caesarstone Ltd. (NASDAQ:CSTE) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $1.72 and traded as high as $2.58. Caesarstone shares last traded at $2.44, with a volume of 135,997 shares changing hands.

Analyst Ratings Changes

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

Caesarstone Trading Down 4.3%

The company’s 50-day moving average price is $1.90 and its two-hundred day moving average price is $1.72. The company has a market cap of $84.35 million, a P/E ratio of -0.58 and a beta of 0.36.

Caesarstone (NASDAQ:CSTE) last released its earnings results on Thursday, May 14th. The construction company reported ($0.32) EPS for the quarter, topping analysts’ consensus estimates 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 Inflows and Outflows

Several institutional investors have recently modified their holdings of CSTE. Empowered Funds LLC lifted its position in shares of Caesarstone by 10.7% during the 1st quarter. Empowered Funds LLC now owns 58,008 shares of the construction company’s stock valued at $62,000 after acquiring an additional 5,584 shares during the last quarter. Virtu Financial LLC acquired a new stake in shares of Caesarstone during the fourth quarter worth $30,000. Citadel Advisors LLC raised its position in shares of 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 purchasing an additional 39,474 shares during the period. Pitcairn Co. acquired a new stake in shares of Caesarstone during the second quarter worth $31,000. Finally, Jane Street Group LLC purchased a new stake in shares of Caesarstone during the second quarter valued at $263,000. Institutional investors own 33.70% of the company’s stock.

Caesarstone Company Profile

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.