Caesarstone (NASDAQ:CSTE) Stock Price Passes Above Two Hundred Day Moving Average – What’s Next?

Caesarstone Ltd. (NASDAQ:CSTE)’s stock price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $1.66 and traded as high as $2.14. Caesarstone shares last traded at $2.09, with a volume of 262,067 shares trading hands.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded shares of Caesarstone from a “strong sell” rating to a “sell” rating in a research note on Saturday. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has an average rating of “Sell”.

Caesarstone Price Performance

The firm has a market capitalization of $72.25 million, a P/E ratio of -0.50 and a beta of 0.38. The business has a 50 day moving average price of $1.70 and a 200 day moving average price of $1.66.

Caesarstone (NASDAQ:CSTE) last announced its earnings results on Thursday, May 14th. The construction company reported ($0.32) earnings per share for the quarter, beating the consensus estimate of ($0.35) by $0.03. The firm had revenue of $88.71 million during the quarter, compared to the consensus estimate of $97.80 million. Caesarstone had a negative return on equity of 29.41% and a negative net margin of 37.70%.

Institutional Investors Weigh In On Caesarstone

Hedge funds have recently modified their holdings of the business. Pitcairn Co. bought a new position in Caesarstone during the second quarter worth $31,000. Virtu Financial LLC bought a new stake in Caesarstone in the 4th quarter valued at $30,000. Qube Research & Technologies Ltd acquired a new stake in Caesarstone in the 2nd quarter worth $56,000. GSA Capital Partners LLP acquired a new stake in Caesarstone in the 3rd quarter worth $89,000. Finally, Empowered Funds LLC grew its position in Caesarstone by 10.7% in the 1st quarter. Empowered Funds LLC now owns 58,008 shares of the construction company’s stock worth $62,000 after purchasing an additional 5,584 shares during the last quarter. 33.70% of the stock is owned by 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.