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

Wall Street Zen upgraded shares of Caesarstone (NASDAQ:CSTE) from a strong sell rating to a sell rating in a report published on Saturday.

Caesarstone Price Performance

Shares of CSTE stock opened at $1.38 on Friday. Caesarstone has a 52-week low of $0.56 and a 52-week high of $2.58. The stock has a market cap of $47.71 million, a PE ratio of -0.35 and a beta of 0.23. The business has a 50-day simple moving average of $1.22 and a 200-day simple moving average of $1.52.

Caesarstone (NASDAQ:CSTE) last posted 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). Caesarstone had a negative return on equity of 24.33% and a negative net margin of 34.60%.The company had revenue of $94.44 million for the quarter, compared to analyst estimates of $93.70 million.

Institutional Trading of Caesarstone

A number of hedge funds have recently added to or reduced their stakes in the company. GSA Capital Partners LLP acquired a new stake in Caesarstone during the third quarter valued at $89,000. Virtu Financial LLC acquired a new position in shares of Caesarstone in the fourth quarter worth about $30,000. Jane Street Group LLC purchased a new stake in shares of Caesarstone during the 2nd quarter worth about $263,000. Citadel Advisors LLC boosted its stake 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 in the last quarter. Finally, Qube Research & Technologies Ltd acquired a new stake in shares of Caesarstone during the 2nd quarter valued at about $56,000. 33.70% of the stock is owned by hedge funds and other institutional investors.

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.