StockNews.com started coverage on shares of Caesarstone (NASDAQ:CSTE – Free Report) in a research note issued to investors on Monday morning. The firm issued a hold rating on the construction company’s stock.
Caesarstone Trading Down 3.7 %
Shares of Caesarstone stock opened at $3.65 on Monday. The firm has a fifty day simple moving average of $4.20 and a 200-day simple moving average of $4.39. Caesarstone has a 1-year low of $3.60 and a 1-year high of $6.81. The stock has a market capitalization of $126.04 million, a price-to-earnings ratio of -1.82 and a beta of 0.17.
Institutional Trading of Caesarstone
A number of institutional investors and hedge funds have recently modified their holdings of CSTE. Two Sigma Securities LLC acquired a new stake in shares of Caesarstone in the fourth quarter worth $46,000. Wells Fargo & Company MN lifted its stake in shares of Caesarstone by 27.9% in the fourth 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 shares of Caesarstone in the third quarter worth $55,000. Bank of America Corp DE lifted its stake in shares of Caesarstone by 18.0% in the fourth 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 shares of Caesarstone in the third quarter worth $164,000. 33.70% of the stock is currently owned by institutional investors and hedge funds.
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.
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