Caesarstone Ltd. (NASDAQ:CSTE) Sees Large Decline in Short Interest

Caesarstone Ltd. (NASDAQ:CSTE) saw a significant decline in short interest in the month of February. As of February 13th, there was short interest totaling 51,156 shares, a decline of 46.9% from the January 29th total of 96,392 shares. Currently, 0.1% of the shares of the company are short sold. Based on an average daily trading volume, of 83,980 shares, the days-to-cover ratio is presently 0.6 days. Based on an average daily trading volume, of 83,980 shares, the days-to-cover ratio is presently 0.6 days. Currently, 0.1% of the shares of the company are short sold.

Caesarstone Trading Down 7.4%

Shares of NASDAQ:CSTE opened at $1.37 on Monday. The stock has a 50 day moving average of $2.00 and a 200 day moving average of $1.62. The company has a market cap of $47.33 million, a PE ratio of -0.67 and a beta of -0.03. Caesarstone has a 12-month low of $0.86 and a 12-month high of $3.86.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded shares of Caesarstone to a “strong sell” rating in a research report on Friday, January 23rd. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has an average rating of “Sell”.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Simplex Trading LLC bought a new position in Caesarstone in the 2nd quarter worth $26,000. Pitcairn Co. bought a new position in shares of Caesarstone in the second quarter worth about $31,000. Virtu Financial LLC purchased a new stake in shares of Caesarstone during the fourth quarter worth about $30,000. Quadrature Capital Ltd bought a new stake in Caesarstone during the 2nd quarter valued at approximately $36,000. Finally, Qube Research & Technologies Ltd bought a new stake in Caesarstone during the 2nd quarter valued at approximately $56,000. Hedge funds and other institutional investors own 33.70% of the company’s stock.

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.