Caesarstone Ltd. (NASDAQ:CSTE) Sees Significant Decline in Short Interest

Caesarstone Ltd. (NASDAQ:CSTE) was the target of a large decrease in short interest in December. As of December 15th, there was short interest totaling 206,655 shares, a decrease of 18.4% from the November 30th total of 253,258 shares. Based on an average daily trading volume, of 324,696 shares, the short-interest ratio is currently 0.6 days. Approximately 0.6% of the company’s stock are sold short. Approximately 0.6% of the company’s stock are sold short. Based on an average daily trading volume, of 324,696 shares, the short-interest ratio is currently 0.6 days.

Caesarstone Stock Down 2.1%

Shares of NASDAQ:CSTE opened at $1.86 on Friday. Caesarstone has a 52 week low of $0.86 and a 52 week high of $4.67. The company has a 50-day moving average price of $1.40 and a 200 day moving average price of $1.56. The company has a market cap of $64.26 million, a P/E ratio of -0.92 and a beta of -0.10.

Caesarstone (NASDAQ:CSTE) last released its earnings results on Wednesday, November 12th. The construction company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.29) by ($0.11). The business had revenue of $102.11 million for the quarter, compared to analyst estimates of $97.60 million. Caesarstone had a negative return on equity of 19.35% and a negative net margin of 18.44%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in CSTE. Jane Street Group LLC purchased a new position in shares of Caesarstone in the second quarter valued at $263,000. Y Intercept Hong Kong Ltd acquired a new position in shares of Caesarstone during the 2nd quarter worth approximately $212,000. GSA Capital Partners LLP purchased a new stake in Caesarstone in the 3rd quarter valued at approximately $89,000. 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 valued at $101,000 after buying an additional 39,474 shares during the last quarter. Finally, Qube Research & Technologies Ltd acquired a new stake in Caesarstone during the 2nd quarter valued at $56,000. 33.70% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Caesarstone in a research report on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

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.