Caesarstone (NASDAQ:CSTE) Shares Cross Above Two Hundred Day Moving Average – What’s Next?

Caesarstone Ltd. (NASDAQ:CSTE) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $1.62 and traded as high as $1.7908. Caesarstone shares last traded at $1.74, with a volume of 70,940 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised Caesarstone from a “strong sell” rating to a “sell” rating in a report on Monday, May 25th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the company has a consensus rating of “Sell”.

Caesarstone Stock Performance

The company’s 50 day moving average price is $1.55 and its 200 day moving average price is $1.62. The company has a market cap of $60.15 million, a price-to-earnings ratio of -0.41 and a beta of 0.38.

Caesarstone (NASDAQ:CSTE) last issued its earnings results on Thursday, May 14th. The construction company reported ($0.32) EPS for the quarter, beating the consensus estimate of ($0.35) by $0.03. Caesarstone had a negative net margin of 37.70% and a negative return on equity of 29.41%. The company had revenue of $88.71 million for the quarter, compared to the consensus estimate of $97.80 million.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Pitcairn Co. acquired a new position in shares of Caesarstone in the 2nd quarter worth approximately $31,000. Virtu Financial LLC acquired a new position in shares of Caesarstone in the 4th quarter worth approximately $30,000. Qube Research & Technologies Ltd acquired a new position in shares of Caesarstone in the 2nd quarter worth approximately $56,000. Citadel Advisors LLC boosted 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 worth $101,000 after acquiring an additional 39,474 shares in the last quarter. Finally, GSA Capital Partners LLP acquired a new position in shares of Caesarstone in the 3rd quarter worth approximately $89,000. 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.