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

Caesarstone Ltd. (NASDAQ:CSTE) saw a significant decline in short interest during the month of February. As of February 13th, there was short interest totaling 51,156 shares, a decline of 46.9% from the January 29th total of 96,392 shares. Approximately 0.1% of the company’s stock are short sold. Based on an average daily trading volume, of 83,980 shares, the short-interest ratio is presently 0.6 days. Based on an average daily trading volume, of 83,980 shares, the short-interest ratio is presently 0.6 days. Approximately 0.1% of the company’s stock are short sold.

Caesarstone Stock Performance

Shares of CSTE stock opened at $1.37 on Friday. The firm has a fifty day moving average of $2.00 and a 200-day moving average of $1.62. The stock has a market cap of $47.33 million, a price-to-earnings ratio of -0.67 and a beta of -0.09. Caesarstone has a 52-week low of $0.86 and a 52-week high of $3.86.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen lowered shares of Caesarstone to a “strong sell” rating in a research note on Friday, January 23rd. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has a consensus rating of “Sell”.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CSTE. Simplex Trading LLC bought a new stake in shares of Caesarstone in the 2nd quarter valued at approximately $26,000. Pitcairn Co. bought a new position in shares of Caesarstone during the 2nd quarter worth approximately $31,000. Virtu Financial LLC acquired a new stake in Caesarstone in the 4th quarter valued at $30,000. Quadrature Capital Ltd bought a new stake in Caesarstone in the second quarter valued at $36,000. Finally, Qube Research & Technologies Ltd bought a new stake in Caesarstone in the second quarter valued at $56,000. Institutional investors own 33.70% of the company’s stock.

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.