Caesarstone (NASDAQ:CSTE) Shares Cross Above 200 Day Moving Average of $4.35

Shares of Caesarstone Ltd. (NASDAQ:CSTE) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $4.35 and traded as high as $6.55. Caesarstone shares last traded at $5.94, with a volume of 426,820 shares trading hands.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut Caesarstone from a “buy” rating to a “hold” rating in a research note on Thursday, February 22nd.

Caesarstone Price Performance

The company has a quick ratio of 1.51, a current ratio of 2.64 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $205.11 million, a P/E ratio of -1.90 and a beta of 0.23. The business has a 50 day simple moving average of $4.98 and a 200-day simple moving average of $4.35.

Caesarstone (NASDAQ:CSTE) last posted its earnings results on Wednesday, February 21st. The construction company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.02). The company had revenue of $128.53 million during the quarter, compared to the consensus estimate of $124.94 million. Caesarstone had a negative net margin of 19.05% and a negative return on equity of 12.71%. During the same quarter in the previous year, the business posted ($0.03) earnings per share. Analysts predict that Caesarstone Ltd. will post -0.43 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Yelin Lapidot Holdings Management Ltd. acquired a new position in shares of Caesarstone during the third quarter valued at $2,711,000. Essex Investment Management Co. LLC increased its holdings in shares of Caesarstone by 89.7% during the first quarter. Essex Investment Management Co. LLC now owns 329,827 shares of the construction company’s stock valued at $1,349,000 after purchasing an additional 155,956 shares during the period. Acuitas Investments LLC acquired a new position in shares of Caesarstone during the fourth quarter valued at $608,000. Citigroup Inc. increased its holdings in shares of Caesarstone by 21,632.8% during the third quarter. Citigroup Inc. now owns 53,680 shares of the construction company’s stock valued at $230,000 after purchasing an additional 53,433 shares during the period. Finally, Marquette Asset Management LLC increased its holdings in shares of Caesarstone by 19.8% during the first quarter. Marquette Asset Management LLC now owns 36,291 shares of the construction company’s stock valued at $148,000 after purchasing an additional 6,006 shares during the period. 33.70% of the stock is owned by institutional investors and hedge funds.

About Caesarstone

Caesarstone Ltd., together with its subsidiaries, designs, develops, manufactures, and markets engineered stone and other materials under the Caesarstone brand in the United States, Canada, Latin America, Australia, Asia, Europe, the Middle East and Africa, and Israel. The company's engineered stone slabs are primarily used as indoor and outdoor kitchen countertops in the renovation and remodeling, and residential construction sectors.