Caesarstone (NASDAQ:CSTE) Stock Crosses Above 200-Day Moving Average – Should You Sell?

Shares of Caesarstone Ltd. (NASDAQ:CSTE) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $1.56 and traded as high as $2.28. Caesarstone shares last traded at $2.23, with a volume of 208,780 shares traded.

Analyst Upgrades and Downgrades

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

Caesarstone Price Performance

The firm has a market cap of $77.05 million, a P/E ratio of -1.10 and a beta of -0.09. The firm’s 50 day moving average is $1.67 and its 200 day moving average is $1.56.

Caesarstone (NASDAQ:CSTE) last released its earnings results on Wednesday, November 12th. The construction company reported ($0.40) earnings per share (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 business had revenue of $102.11 million for the quarter, compared to analysts’ expectations of $97.60 million.

Institutional Investors Weigh In On Caesarstone

Several hedge funds have recently added to or reduced their stakes in the stock. Simplex Trading LLC purchased a new stake in shares of Caesarstone in the second quarter worth $26,000. Pitcairn Co. bought a new position in Caesarstone in the 2nd quarter worth about $31,000. Quadrature Capital Ltd bought a new position in Caesarstone in the 2nd quarter worth about $36,000. Qube Research & Technologies Ltd purchased a new stake in Caesarstone during the 2nd quarter valued at about $56,000. Finally, GSA Capital Partners LLP bought a new stake in Caesarstone during the 3rd quarter valued at about $89,000. 33.70% of the stock is owned by institutional investors.

About Caesarstone

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.