Caesarstone Ltd. (NASDAQ:CSTE) Short Interest Update

Caesarstone Ltd. (NASDAQ:CSTE) saw a large decline in short interest in August. As of August 14th, there was short interest totaling 150,240 shares, a decline of 35.8% from the July 30th total of 234,096 shares. Approximately 0.4% of the shares of the stock are sold short. Based on an average daily trading volume, of 138,342 shares, the days-to-cover ratio is presently 1.1 days.

Analyst Ratings Changes

Several analysts recently issued reports on CSTE shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Caesarstone in a research report on Thursday, August 6th. Wall Street Zen upgraded Caesarstone from a “strong sell” rating to a “hold” rating in a research note on Saturday, August 8th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Caesarstone currently has a consensus rating of “Sell”.

Caesarstone Price Performance

Shares of Caesarstone stock opened at $3.00 on Thursday. The company’s 50 day moving average price is $2.59 and its two-hundred day moving average price is $1.86. The firm has a market capitalization of $103.72 million, a P/E ratio of -0.73 and a beta of 0.42. Caesarstone has a fifty-two week low of $0.56 and a fifty-two week high of $3.84.

Caesarstone (NASDAQ:CSTE) last announced its quarterly earnings results on Wednesday, August 5th. The construction company reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.16. Caesarstone had a negative return on equity of 32.36% and a negative net margin of 37.37%.The company had revenue of $96.55 million during the quarter, compared to analysts’ expectations of $102.50 million.

Institutional Trading of Caesarstone

A number of hedge funds have recently made changes to their positions in the company. Jane Street Group LLC acquired a new position in shares of Caesarstone in the second quarter valued at approximately $263,000. Citadel Advisors LLC raised its holdings in 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 buying an additional 39,474 shares during the last quarter. Qube Research & Technologies Ltd acquired a new stake in Caesarstone during the 2nd quarter worth approximately $56,000. Virtu Financial LLC acquired a new stake in Caesarstone during the 4th quarter worth approximately $30,000. Finally, Pitcairn Co. bought a new stake in Caesarstone during the 2nd quarter worth approximately $31,000. 33.70% of the stock is owned by institutional investors and hedge funds.

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.