Caesarstone (NASDAQ:CSTE) Shares Cross Above 200 Day Moving Average – Should You Sell?

Caesarstone Ltd. (NASDAQ:CSTE)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $1.56 and traded as high as $1.72. Caesarstone shares last traded at $1.65, with a volume of 109,162 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Caesarstone in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has an average rating of “Sell”.

Caesarstone Price Performance

The stock has a market capitalization of $57.01 million, a price-to-earnings ratio of -0.81 and a beta of -0.04. The business’s fifty day moving average price is $1.32 and its 200-day moving average price is $1.56.

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

Institutional Trading of Caesarstone

Several hedge funds have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. raised its holdings in shares of Caesarstone by 19.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 57,766 shares of the construction company’s stock worth $140,000 after purchasing an additional 9,403 shares during the period. Nuveen LLC purchased a new stake in shares of Caesarstone during the 1st quarter valued at approximately $68,000. Y Intercept Hong Kong Ltd purchased a new stake in Caesarstone during the 2nd quarter worth about $212,000. Jane Street Group LLC bought a new position in Caesarstone in the 2nd quarter worth about $263,000. Finally, Citadel Advisors LLC increased 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 worth $101,000 after acquiring an additional 39,474 shares during the period. 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.