Caesarstone (NASDAQ:CSTE) Share Price Breaks Above Two Hundred Day Moving Average – Time to Sell?

Caesarstone Ltd. (NASDAQ:CSTE) shares crossed above its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of $2.06 and traded as high as $2.96. Caesarstone shares last traded at $2.87, with a volume of 26,216 shares.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Wall Street Zen upgraded Caesarstone from a “strong sell” rating to a “hold” rating in a report on Saturday, August 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of Caesarstone in a research report on Thursday, August 6th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, Caesarstone has an average rating of “Sell”.

Caesarstone Trading Down 0.7%

The firm has a market capitalization of $99.57 million, a P/E ratio of -0.70 and a beta of 0.42. The stock’s 50-day simple moving average is $2.84 and its 200-day simple moving average is $2.07.

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

Institutional Inflows and Outflows

A hedge fund recently raised its position in Caesarstone stock. Empowered Funds LLC grew its holdings in shares of Caesarstone Ltd. (NASDAQ:CSTE) by 10.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 58,008 shares of the construction company’s stock after purchasing an additional 5,584 shares during the quarter. Empowered Funds LLC owned approximately 0.17% of Caesarstone worth $62,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 33.70% of the company’s stock.

About Caesarstone

Caesarstone Ltd. (NASDAQ: CSTE) is a manufacturer and designer of engineered surfaces used in residential and commercial construction and remodeling. The company is best known for quartz surfaces used for kitchen and bathroom countertops, backsplashes, vanities, wall applications and other interior design projects.

Its product portfolio also includes porcelain and natural stone surfaces, offered in a range of colors, patterns, finishes and thicknesses. Caesarstone markets its products to fabricators, distributors, retailers, architects, designers, builders and homeowners.

Founded in 1987 and headquartered in Israel, Caesarstone serves customers through a global distribution and sales network, with significant markets in North America, Europe, Australia and other international regions.