Caesarstone (NASDAQ:CSTE) Stock Price Crosses Above Two Hundred Day Moving Average – Time to Sell?

Shares of Caesarstone Ltd. (NASDAQ:CSTE) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $1.57 and traded as high as $1.9350. Caesarstone shares last traded at $1.85, with a volume of 374,713 shares trading hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Caesarstone in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has a consensus rating of “Sell”.

Caesarstone Trading Up 1.6%

The firm has a market capitalization of $63.92 million, a price-to-earnings ratio of -0.91 and a beta of -0.05. The firm has a 50 day moving average price of $1.31 and a two-hundred day moving average price of $1.57.

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

Hedge Funds Weigh In On Caesarstone

A number of institutional investors and hedge funds have recently bought and sold shares of CSTE. Simplex Trading LLC bought a new position in shares of Caesarstone during the 2nd quarter valued at about $26,000. Pitcairn Co. acquired a new position in Caesarstone during the second quarter valued at $31,000. Quadrature Capital Ltd acquired a new position in shares of Caesarstone in the 2nd quarter valued at about $36,000. Qube Research & Technologies Ltd purchased a new stake in Caesarstone in the 2nd quarter worth approximately $56,000. Finally, Nuveen LLC purchased a new stake in shares of Caesarstone during the first quarter worth $68,000. Institutional investors own 33.70% of the company’s stock.

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.