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

Shares of Caesarstone Ltd. (NASDAQ:CSTE) crossed above its 200-day moving average during trading on Friday . The stock has a 200-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 Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Caesarstone in a research report on Wednesday, October 8th. Wall Street Zen downgraded Caesarstone to a “strong sell” rating in a research note on Friday, January 23rd. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has an average rating of “Sell”.

Caesarstone Trading Down 3.1%

The business has a 50 day moving average of $1.84 and a 200-day moving average of $1.59. The stock has a market cap of $75.32 million, a PE ratio of -1.07 and a beta of -0.09.

Caesarstone (NASDAQ:CSTE) last released its quarterly earnings results on Wednesday, November 12th. The construction company reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $97.60 million.

Institutional Trading of Caesarstone

A number of hedge funds have recently bought and sold shares of CSTE. Y Intercept Hong Kong Ltd acquired a new position in Caesarstone in the 2nd quarter valued at $212,000. Citadel Advisors LLC grew its position in shares of Caesarstone by 163.7% in the third 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 period. GSA Capital Partners LLP acquired a new position in Caesarstone in the third quarter valued at $89,000. Pitcairn Co. acquired a new position in Caesarstone in the second quarter valued at $31,000. Finally, Jane Street Group LLC purchased a new position in Caesarstone during the second quarter worth about $263,000. Institutional investors and hedge funds own 33.70% of the company’s stock.

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.