Caesarstone (NASDAQ:CSTE) Coverage Initiated at StockNews.com

StockNews.com initiated coverage on shares of Caesarstone (NASDAQ:CSTE) in a report issued on Sunday. The firm set a “hold” rating on the construction company’s stock.

Caesarstone Stock Up 0.3 %

CSTE opened at $3.81 on Friday. The firm has a market cap of $131.56 million, a P/E ratio of -1.90 and a beta of 0.17. Caesarstone has a 52 week low of $3.76 and a 52 week high of $6.81. The business’s fifty day simple moving average is $4.29 and its 200 day simple moving average is $4.43.

Institutional Trading of Caesarstone

A number of large investors have recently made changes to their positions in CSTE. Two Sigma Securities LLC acquired a new stake in shares of Caesarstone during the fourth quarter valued at $46,000. Wells Fargo & Company MN boosted its stake in Caesarstone by 27.9% in the 4th quarter. Wells Fargo & Company MN now owns 12,148 shares of the construction company’s stock worth $52,000 after buying an additional 2,647 shares during the last quarter. Jane Street Group LLC acquired a new stake in Caesarstone in the 3rd quarter worth about $55,000. Bank of America Corp DE boosted its stake in Caesarstone by 18.0% in the 4th quarter. Bank of America Corp DE now owns 36,858 shares of the construction company’s stock worth $157,000 after buying an additional 5,618 shares during the last quarter. Finally, Empowered Funds LLC acquired a new stake in Caesarstone in the 3rd quarter worth about $164,000. Institutional investors and hedge funds own 33.70% of the company’s stock.

About Caesarstone

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.