Caesarstone (NASDAQ:CSTE) Director Sells $11,029.25 in Stock

Caesarstone Ltd. (NASDAQ:CSTE) Director David Vincent Cullen sold 7,025 shares of the firm’s stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $1.57, for a total transaction of $11,029.25. Following the completion of the sale, the director owned 675 shares in the company, valued at $1,059.75. This represents a 91.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Caesarstone Stock Up 1.1%

NASDAQ CSTE traded up $0.02 during midday trading on Thursday, hitting $1.76. The company had a trading volume of 183,245 shares, compared to its average volume of 745,330. The stock has a market cap of $60.84 million, a price-to-earnings ratio of -0.42 and a beta of 0.23. The firm has a fifty day simple moving average of $1.29 and a two-hundred day simple moving average of $1.54. Caesarstone Ltd. has a fifty-two week low of $0.56 and a fifty-two week high of $2.58.

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

Institutional Trading of Caesarstone

Several institutional investors have recently made changes to their positions in the business. Jane Street Group LLC bought a new position in Caesarstone during the 2nd quarter valued at about $263,000. GSA Capital Partners LLP bought a new position in Caesarstone during the 3rd quarter valued at about $89,000. Citadel Advisors LLC lifted its holdings in Caesarstone by 163.7% during the 3rd quarter. Citadel Advisors LLC now owns 63,589 shares of the construction company’s stock valued at $101,000 after purchasing an additional 39,474 shares during the last quarter. Qube Research & Technologies Ltd bought a new position in Caesarstone during the 2nd quarter valued at about $56,000. Finally, Virtu Financial LLC bought a new position in Caesarstone during the 4th quarter valued at about $30,000. 33.70% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Wall Street Zen lowered shares of Caesarstone from a “sell” rating to a “strong sell” rating in a research report on Sunday. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Caesarstone has a consensus rating of “Sell”.

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.