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

Caesarstone Ltd. (NASDAQ:CSTE)’s share price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $1.74 and traded as high as $2.26. Caesarstone shares last traded at $2.20, with a volume of 53,582 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded Caesarstone from a “strong sell” rating to a “sell” rating in a report on Saturday, June 27th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has an average rating of “Sell”.

Caesarstone Price Performance

The stock has a market cap of $72.26 million, a price-to-earnings ratio of -0.50 and a beta of 0.36. The company’s fifty day simple moving average is $2.01 and its two-hundred day simple moving average is $1.74.

Caesarstone (NASDAQ:CSTE) last issued its quarterly earnings data on Thursday, May 14th. The construction company reported ($0.32) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.03. The firm had revenue of $88.71 million during the quarter, compared to analysts’ expectations of $97.80 million. Caesarstone had a negative net margin of 37.70% and a negative return on equity of 29.41%.

Hedge Funds Weigh In On Caesarstone

Institutional investors have recently modified their holdings of the business. Virtu Financial LLC purchased a new stake in shares of Caesarstone during the 4th quarter valued at $30,000. Pitcairn Co. bought a new position in Caesarstone during the second quarter valued at about $31,000. Qube Research & Technologies Ltd purchased a new stake in Caesarstone during the second quarter worth about $56,000. Empowered Funds LLC increased its holdings in Caesarstone by 10.7% during the first quarter. Empowered Funds LLC now owns 58,008 shares of the construction company’s stock worth $62,000 after buying an additional 5,584 shares during the last quarter. Finally, Citadel Advisors LLC raised its position in Caesarstone by 163.7% in 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. 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.