Caesarstone (NASDAQ:CSTE) Stock Crosses Above 200 Day Moving Average – Time to Sell?

Shares of Caesarstone Ltd. (NASDAQ:CSTE) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $1.56 and traded as high as $2.28. Caesarstone shares last traded at $2.23, with a volume of 208,780 shares.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Weiss Ratings restated a “sell (e+)” rating on shares of Caesarstone in a research note on Wednesday, October 8th. Wall Street Zen lowered Caesarstone to a “strong sell” rating in a research report on Friday. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Sell”.

Caesarstone Price Performance

The stock has a 50-day moving average of $1.71 and a 200 day moving average of $1.57. The stock has a market capitalization of $86.38 million, a price-to-earnings ratio of -1.23 and a beta of -0.09.

Caesarstone (NASDAQ:CSTE) last issued its earnings results on Wednesday, November 12th. The construction company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.29) by ($0.11). Caesarstone had a negative net margin of 18.44% and a negative return on equity of 19.35%. The business had revenue of $102.11 million during the quarter, compared to the consensus estimate of $97.60 million.

Institutional Trading of Caesarstone

Several institutional investors and hedge funds have recently made changes to their positions in the business. Simplex Trading LLC acquired a new position in shares of Caesarstone in the 2nd quarter valued at $26,000. Pitcairn Co. bought a new stake in Caesarstone in the second quarter valued at about $31,000. Quadrature Capital Ltd acquired a new position in Caesarstone in the second quarter valued at about $36,000. Qube Research & Technologies Ltd bought a new position in Caesarstone during the second quarter worth about $56,000. Finally, GSA Capital Partners LLP acquired a new position in shares of Caesarstone during the 3rd quarter worth about $89,000. Institutional investors own 33.70% of the company’s stock.

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.