Caesarstone Ltd. (NASDAQ:CSTE) Short Interest Down 21.3% in April

Caesarstone Ltd. (NASDAQ:CSTE) saw a large decrease in short interest in April. As of April 15th, there was short interest totaling 512,945 shares, a decrease of 21.3% from the March 31st total of 651,844 shares. Currently, 1.5% of the shares of the company are sold short. Based on an average daily trading volume, of 388,850 shares, the days-to-cover ratio is presently 1.3 days.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut shares of Caesarstone from a “sell” rating to a “strong sell” rating in a research note on Saturday, April 11th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Caesarstone currently has an average rating of “Sell”.

Caesarstone Stock Performance

NASDAQ CSTE traded down $0.05 on Friday, hitting $1.28. The stock had a trading volume of 100,966 shares, compared to its average volume of 229,190. Caesarstone has a 52-week low of $0.56 and a 52-week high of $2.62. The company has a market capitalization of $44.25 million, a price-to-earnings ratio of -0.32 and a beta of 0.23. The firm has a 50-day moving average of $1.23 and a 200-day moving average of $1.52.

Caesarstone (NASDAQ:CSTE) last posted its earnings results on Wednesday, March 4th. The construction company reported ($0.48) earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $94.44 million during the quarter, compared to analysts’ expectations of $93.70 million.

Institutional Trading of Caesarstone

Institutional investors and hedge funds have recently bought and sold shares of the company. Citadel Advisors LLC lifted its stake in Caesarstone by 163.7% in the 3rd quarter. Citadel Advisors LLC now owns 63,589 shares of the construction company’s stock worth $101,000 after purchasing an additional 39,474 shares in the last quarter. Pitcairn Co. purchased a new stake in Caesarstone in the 2nd quarter worth approximately $31,000. Jane Street Group LLC purchased a new stake in Caesarstone in the 2nd quarter worth approximately $263,000. Qube Research & Technologies Ltd purchased a new stake in Caesarstone in the 2nd quarter worth approximately $56,000. Finally, Virtu Financial LLC purchased a new stake in Caesarstone in the 4th quarter worth approximately $30,000. 33.70% of the stock is currently owned by hedge funds and other institutional investors.

About Caesarstone

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.