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

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

Caesarstone Price Performance

Caesarstone stock traded down $0.11 during mid-day trading on Friday, reaching $1.37. 103,968 shares of the company were exchanged, compared to its average volume of 89,584. The company has a fifty day simple moving average of $2.00 and a 200-day simple moving average of $1.62. The firm has a market cap of $47.33 million, a PE ratio of -0.67 and a beta of -0.09. Caesarstone has a 12 month low of $0.86 and a 12 month high of $3.86.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Caesarstone

Several institutional investors and hedge funds have recently bought and sold shares of CSTE. Virtu Financial LLC bought a new position in Caesarstone in the 4th quarter valued at about $30,000. Citadel Advisors LLC lifted its holdings in shares of Caesarstone by 163.7% during the 3rd quarter. Citadel Advisors LLC now owns 63,589 shares of the construction company’s stock worth $101,000 after acquiring an additional 39,474 shares during the period. GSA Capital Partners LLP acquired a new stake in shares of Caesarstone during the 3rd quarter worth approximately $89,000. Pitcairn Co. bought a new position in Caesarstone in the second quarter valued at approximately $31,000. Finally, Jane Street Group LLC acquired a new position in Caesarstone during the second quarter valued at approximately $263,000. 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.