Caesarstone Ltd. (NASDAQ:CSTE) Short Interest Update

Caesarstone Ltd. (NASDAQ:CSTE) was the recipient of a significant growth in short interest during the month of March. As of March 13th, there was short interest totaling 293,524 shares, a growth of 1,056.9% from the February 26th total of 25,371 shares. Currently, 0.8% of the shares of the stock are sold short. Based on an average trading volume of 4,512,249 shares, the short-interest ratio is currently 0.1 days. Based on an average trading volume of 4,512,249 shares, the short-interest ratio is currently 0.1 days. Currently, 0.8% of the shares of the stock are sold short.

Institutional Investors Weigh In On Caesarstone

A number of hedge funds have recently modified their holdings of CSTE. Jane Street Group LLC purchased a new stake in Caesarstone in the second quarter valued at approximately $263,000. Virtu Financial LLC acquired a new stake in shares of Caesarstone during the fourth quarter worth about $30,000. Citadel Advisors LLC boosted its stake in shares of Caesarstone by 163.7% in the third quarter. Citadel Advisors LLC now owns 63,589 shares of the construction company’s stock valued at $101,000 after purchasing an additional 39,474 shares during the period. Pitcairn Co. acquired a new position in shares of Caesarstone in the second quarter valued at approximately $31,000. Finally, Qube Research & Technologies Ltd purchased a new stake in Caesarstone during the 2nd quarter worth approximately $56,000. Hedge funds and other institutional investors own 33.70% of the company’s stock.

Analyst Ratings Changes

Separately, Wall Street Zen raised shares of Caesarstone to a “sell” rating in a research note on Saturday. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Caesarstone has a consensus rating of “Sell”.

Caesarstone Price Performance

Shares of NASDAQ:CSTE traded down $0.07 during midday trading on Tuesday, hitting $1.06. The company had a trading volume of 360,068 shares, compared to its average volume of 2,933,068. Caesarstone has a twelve month low of $0.56 and a twelve month high of $3.26. The stock has a market cap of $36.64 million, a price-to-earnings ratio of -0.27 and a beta of -0.03. The business’s 50-day simple moving average is $1.67 and its 200-day simple moving average is $1.55.

Caesarstone (NASDAQ:CSTE) last released its quarterly earnings data on Wednesday, March 4th. The construction company reported ($0.48) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.10). Caesarstone had a negative return on equity of 24.33% and a negative net margin of 34.60%.The company had revenue of $94.44 million for the quarter, compared to analyst estimates of $93.70 million.

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.