Caesarstone (NASDAQ:CSTE) Stock Passes Above 200 Day Moving Average – What’s Next?

Caesarstone Ltd. (NASDAQ:CSTE) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $1.61 and traded as high as $2.40. Caesarstone shares last traded at $2.34, with a volume of 49,323 shares traded.

Analyst Ratings Changes

Separately, Wall Street Zen cut Caesarstone to a “strong sell” rating in a research note on Friday, January 23rd. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Sell”.

Caesarstone Stock Up 0.4%

The stock has a market capitalization of $80.85 million, a price-to-earnings ratio of -1.15 and a beta of -0.09. The company has a 50 day simple moving average of $1.96 and a 200-day simple moving average of $1.61.

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Jane Street Group LLC bought a new stake in shares of Caesarstone during the second quarter worth about $263,000. Y Intercept Hong Kong Ltd acquired a new position in Caesarstone during the 2nd quarter valued at about $212,000. GSA Capital Partners LLP bought a new stake in Caesarstone during the 3rd quarter worth approximately $89,000. 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 purchasing an additional 39,474 shares in the last quarter. Finally, Qube Research & Technologies Ltd purchased a new stake in shares of Caesarstone in the second quarter worth approximately $56,000. 33.70% of the stock is owned by institutional investors.

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.