Caesarstone (NASDAQ:CSTE) Downgraded to Strong Sell Rating by Wall Street Zen

Wall Street Zen lowered shares of Caesarstone (NASDAQ:CSTE) from a sell rating to a strong sell rating in a report released on Sunday morning.

Caesarstone Price Performance

Shares of NASDAQ:CSTE opened at $1.72 on Friday. Caesarstone has a 52-week low of $0.56 and a 52-week high of $2.58. The stock has a market cap of $59.46 million, a price-to-earnings ratio of -0.41 and a beta of 0.23. The business has a 50-day moving average price of $1.24 and a 200-day moving average price of $1.53.

Caesarstone (NASDAQ:CSTE) last announced its quarterly earnings data on Wednesday, May 13th. The construction company reported ($0.32) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.35) by $0.03. Caesarstone had a negative return on equity of 29.41% and a negative net margin of 37.70%.The firm had revenue of $88.71 million during the quarter, compared to analysts’ expectations of $97.80 million.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Virtu Financial LLC purchased a new position in shares of Caesarstone in the fourth quarter worth about $30,000. Citadel Advisors LLC grew its holdings in Caesarstone by 163.7% during the third 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. GSA Capital Partners LLP acquired a new stake in Caesarstone during the third quarter worth about $89,000. Pitcairn Co. acquired a new stake in Caesarstone during the second quarter worth about $31,000. Finally, Jane Street Group LLC acquired a new stake in Caesarstone during the second quarter worth about $263,000. 33.70% of the stock is currently owned by hedge funds and other 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.