Caesarstone (NASDAQ:CSTE) Shares Cross Above 200 Day Moving Average of $4.35

Caesarstone Ltd. (NASDAQ:CSTE)’s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $4.35 and traded as high as $6.55. Caesarstone shares last traded at $5.94, with a volume of 426,820 shares changing hands.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of Caesarstone from a “buy” rating to a “hold” rating in a research note on Thursday, February 22nd.

Caesarstone Stock Down 10.1 %

The stock has a market cap of $205.11 million, a PE ratio of -1.90 and a beta of 0.23. The business has a 50 day moving average of $4.98 and a 200-day moving average of $4.35. The company has a current ratio of 2.64, a quick ratio of 1.51 and a debt-to-equity ratio of 0.01.

Caesarstone (NASDAQ:CSTE) last announced its earnings results on Wednesday, February 21st. The construction company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.02). Caesarstone had a negative return on equity of 12.71% and a negative net margin of 19.05%. The business had revenue of $128.53 million for the quarter, compared to analysts’ expectations of $124.94 million. During the same quarter last year, the business posted ($0.03) earnings per share. Equities research analysts predict that Caesarstone Ltd. will post -0.43 EPS for the current fiscal year.

Institutional Investors Weigh In On Caesarstone

Institutional investors and hedge funds have recently made changes to their positions in the business. Yelin Lapidot Holdings Management Ltd. acquired a new position in Caesarstone in the 3rd quarter valued at about $2,711,000. Acuitas Investments LLC purchased a new position in shares of Caesarstone in the 4th quarter valued at approximately $608,000. Essex Investment Management Co. LLC increased its holdings in shares of Caesarstone by 89.7% in the first quarter. Essex Investment Management Co. LLC now owns 329,827 shares of the construction company’s stock valued at $1,349,000 after purchasing an additional 155,956 shares during the period. Citigroup Inc. raised its stake in shares of Caesarstone by 21,632.8% during the third quarter. Citigroup Inc. now owns 53,680 shares of the construction company’s stock worth $230,000 after purchasing an additional 53,433 shares during the last quarter. Finally, Marquette Asset Management LLC acquired a new stake in shares of Caesarstone during the fourth quarter worth $113,000. 33.70% of the stock is owned by hedge funds and other institutional investors.

Caesarstone Company Profile

Caesarstone Ltd., together with its subsidiaries, designs, develops, manufactures, and markets engineered stone and other materials under the Caesarstone brand in the United States, Canada, Latin America, Australia, Asia, Europe, the Middle East and Africa, and Israel. The company's engineered stone slabs are primarily used as indoor and outdoor kitchen countertops in the renovation and remodeling, and residential construction sectors.