Caesarstone Ltd. (NASDAQ:CSTE) Sees Large Decrease in Short Interest

Caesarstone Ltd. (NASDAQ:CSTE) was the target of a significant decrease in short interest during the month of January. As of January 15th, there was short interest totaling 112,113 shares, a decrease of 29.5% from the December 31st total of 158,945 shares. Currently, 0.3% of the shares of the company are sold short. Based on an average trading volume of 91,267 shares, the short-interest ratio is currently 1.2 days. Based on an average trading volume of 91,267 shares, the short-interest ratio is currently 1.2 days. Currently, 0.3% of the shares of the company are sold short.

Caesarstone Stock Up 6.4%

Shares of NASDAQ CSTE traded up $0.14 during mid-day trading on Monday, hitting $2.32. 126,694 shares of the company traded hands, compared to its average volume of 104,900. Caesarstone has a 1 year low of $0.86 and a 1 year high of $4.67. The stock has a market capitalization of $80.16 million, a price-to-earnings ratio of -1.14 and a beta of -0.09. The business has a 50 day moving average of $1.84 and a two-hundred day moving average of $1.58.

Caesarstone (NASDAQ:CSTE) last posted its quarterly earnings data 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 return on equity of 19.35% and a negative net margin of 18.44%.The company had revenue of $102.11 million for the quarter, compared to analyst estimates of $97.60 million.

Institutional Trading of Caesarstone

Several large investors have recently added to or reduced their stakes in CSTE. Citadel Advisors LLC boosted its position 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 worth $101,000 after buying an additional 39,474 shares during the period. GSA Capital Partners LLP acquired a new stake in Caesarstone during the 3rd quarter worth about $89,000. Pitcairn Co. acquired a new stake in Caesarstone during the 2nd quarter worth about $31,000. Jane Street Group LLC purchased a new position in Caesarstone during the 2nd quarter valued at about $263,000. Finally, Qube Research & Technologies Ltd acquired a new position in shares of Caesarstone in the 2nd quarter valued at about $56,000. 33.70% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CSTE has been the topic of several research analyst reports. Wall Street Zen cut shares of Caesarstone to a “strong sell” rating in a research note on Friday, January 23rd. Weiss Ratings reissued a “sell (e+)” rating on shares of Caesarstone in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has an average rating of “Sell”.

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.