Wall Street Zen Upgrades Caesarstone (NASDAQ:CSTE) to “Sell”

Caesarstone (NASDAQ:CSTE) was upgraded by equities research analysts at Wall Street Zen to a “sell” rating in a report issued on Saturday.

Caesarstone Stock Up 31.8%

NASDAQ:CSTE opened at $1.09 on Friday. The stock’s 50 day moving average price is $1.71 and its two-hundred day moving average price is $1.55. The firm has a market capitalization of $37.68 million, a price-to-earnings ratio of -0.27 and a beta of -0.03. Caesarstone has a 12-month low of $0.56 and a 12-month high of $3.26.

Caesarstone (NASDAQ:CSTE) last issued its earnings results on Wednesday, March 4th. The construction company reported ($0.48) EPS for the quarter, missing the consensus estimate of ($0.38) by ($0.10). The business had revenue of $94.44 million for the quarter, compared to the consensus estimate 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

Institutional investors and hedge funds have recently modified their holdings of the stock. Qube Research & Technologies Ltd acquired a new stake in shares of Caesarstone during the 2nd quarter worth about $56,000. Quadrature Capital Ltd bought a new stake in shares of Caesarstone during the 2nd quarter worth about $36,000. GSA Capital Partners LLP acquired a new position in Caesarstone in the 3rd quarter valued at about $89,000. Citadel Advisors LLC grew its stake 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. Finally, Jane Street Group LLC bought a new position in Caesarstone in the 2nd quarter valued at about $263,000. 33.70% of the stock is currently 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.