Caesarstone (NASDAQ:CSTE) Upgraded to “Sell” at Wall Street Zen

Wall Street Zen upgraded shares of Caesarstone (NASDAQ:CSTE) to a sell rating in a research note issued to investors on Saturday.

Caesarstone Trading Up 31.8%

CSTE stock opened at $1.09 on Friday. The company has a market cap of $37.69 million, a PE ratio of -0.27 and a beta of -0.03. The stock has a 50-day moving average price of $1.71 and a two-hundred day moving average price of $1.55. Caesarstone has a 12-month low of $0.56 and a 12-month high of $3.26.

Caesarstone (NASDAQ:CSTE) last released its quarterly earnings data on Wednesday, March 4th. The construction company reported ($0.48) EPS for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.10). Caesarstone had a negative return on equity of 24.33% and a negative net margin of 34.60%.The firm had revenue of $94.44 million during the quarter, compared to analysts’ expectations of $93.70 million.

Institutional Investors Weigh In On Caesarstone

Institutional investors have recently bought and sold shares of the business. Pitcairn Co. acquired a new stake in shares of Caesarstone in the second quarter worth $31,000. Virtu Financial LLC acquired a new position in shares of Caesarstone during the 4th quarter valued at $30,000. Quadrature Capital Ltd acquired a new position in shares of Caesarstone during the 2nd quarter valued at $36,000. Qube Research & Technologies Ltd purchased a new stake in Caesarstone during the 2nd quarter worth $56,000. Finally, Citadel Advisors LLC boosted its position 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 purchasing an additional 39,474 shares during the period. 33.70% of the stock is currently 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.