Caesarstone (NASDAQ:CSTE) Stock Passes Above Two Hundred Day Moving Average – Here’s Why

Caesarstone Ltd. (NASDAQ:CSTE) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $1.52 and traded as high as $1.7250. Caesarstone shares last traded at $1.67, with a volume of 130,050 shares.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded Caesarstone from a “sell” rating to a “strong sell” rating in a report on Saturday, April 11th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has an average rating of “Sell”.

Caesarstone Trading Down 0.6%

The company has a fifty day simple moving average of $1.29 and a 200-day simple moving average of $1.52. The stock has a market cap of $57.73 million, a price-to-earnings ratio of -0.42 and a beta of 0.04.

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

Hedge Funds Weigh In On Caesarstone

Large investors have recently made changes to their positions in the business. Virtu Financial LLC acquired a new position in shares of Caesarstone in the 4th quarter valued at about $30,000. Pitcairn Co. acquired a new position in shares of Caesarstone in the 2nd quarter valued at about $31,000. Qube Research & Technologies Ltd acquired a new position in shares of Caesarstone in the 2nd quarter valued at about $56,000. GSA Capital Partners LLP acquired a new position in shares of Caesarstone in the 3rd quarter valued at about $89,000. Finally, Citadel Advisors LLC increased its holdings in shares of Caesarstone by 163.7% in the 3rd quarter. Citadel Advisors LLC now owns 63,589 shares of the construction company’s stock valued at $101,000 after purchasing an additional 39,474 shares during the period. Institutional investors and hedge funds 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.