Caesarstone (NASDAQ:CSTE) Share Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Caesarstone Ltd. (NASDAQ:CSTE)’s share price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $1.59 and traded as high as $2.22. Caesarstone shares last traded at $2.18, with a volume of 38,113 shares.

Wall Street Analyst Weigh In

A number of analysts have issued reports on CSTE shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Caesarstone in a report on Wednesday, October 8th. Wall Street Zen cut shares of Caesarstone to a “strong sell” rating in a research note on Friday, January 23rd. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Sell”.

Caesarstone Trading Down 3.1%

The company has a market cap of $75.32 million, a PE ratio of -1.07 and a beta of -0.09. The business has a 50 day simple moving average of $1.84 and a two-hundred day simple moving average of $1.58.

Caesarstone (NASDAQ:CSTE) last announced its quarterly earnings data on Wednesday, November 12th. The construction company reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.29) by ($0.11). Caesarstone had a negative return on equity of 19.35% and a negative net margin of 18.44%.The company had revenue of $102.11 million for the quarter, compared to analysts’ expectations of $97.60 million.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Simplex Trading LLC acquired a new stake in shares of Caesarstone during the second quarter valued at about $26,000. Pitcairn Co. acquired a new position in shares of Caesarstone in the 2nd quarter worth approximately $31,000. Quadrature Capital Ltd acquired a new position in Caesarstone in the second quarter worth $36,000. Qube Research & Technologies Ltd bought a new stake in shares of Caesarstone during the 2nd quarter valued at about $56,000. Finally, GSA Capital Partners LLP bought a new position in shares of Caesarstone during the third quarter valued at 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.