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

Caesarstone Ltd. (NASDAQ:CSTE) saw a large decline in short interest in the month of January. As of January 15th, there was short interest totaling 112,113 shares, a decline of 29.5% from the December 31st total of 158,945 shares. Currently, 0.3% of the company’s shares are short sold. Based on an average daily volume of 91,267 shares, the days-to-cover ratio is presently 1.2 days. Based on an average daily volume of 91,267 shares, the days-to-cover ratio is presently 1.2 days. Currently, 0.3% of the company’s shares are short sold.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on CSTE shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Caesarstone in a research note on Wednesday, October 8th. Wall Street Zen downgraded shares of Caesarstone to a “strong sell” rating in a research report on Friday, January 23rd. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Caesarstone Stock Down 3.1%

Shares of NASDAQ:CSTE opened at $2.18 on Friday. The stock’s 50 day moving average is $1.84 and its 200-day moving average is $1.59. Caesarstone has a twelve month low of $0.86 and a twelve month high of $4.67. The firm has a market capitalization of $75.32 million, a price-to-earnings ratio of -1.07 and a beta of -0.09.

Caesarstone (NASDAQ:CSTE) last released its quarterly earnings data on Wednesday, November 12th. The construction company reported ($0.40) earnings per share 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 Trading of Caesarstone

Several institutional investors and hedge funds have recently modified their holdings of the stock. Simplex Trading LLC purchased a new position in shares of Caesarstone during the second quarter valued at approximately $26,000. Pitcairn Co. bought a new position in Caesarstone during the 2nd quarter valued at $31,000. Quadrature Capital Ltd bought a new stake in shares of Caesarstone in the 2nd quarter worth $36,000. Qube Research & Technologies Ltd bought a new position in shares of Caesarstone during the second quarter valued at about $56,000. Finally, GSA Capital Partners LLP purchased a new position in Caesarstone during the third quarter worth about $89,000. 33.70% of the stock is owned by hedge funds and other institutional investors.

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.