Caesarstone Ltd. (NASDAQ:CSTE) Short Interest Down 46.9% in February

Caesarstone Ltd. (NASDAQ:CSTE) was the recipient of a large decline in short interest during the month of February. As of February 13th, there was short interest totaling 51,156 shares, a decline of 46.9% from the January 29th total of 96,392 shares. Based on an average daily trading volume, of 83,980 shares, the short-interest ratio is presently 0.6 days. Approximately 0.1% of the company’s stock are sold short. Approximately 0.1% of the company’s stock are sold short. Based on an average daily trading volume, of 83,980 shares, the short-interest ratio is presently 0.6 days.

Institutional Investors Weigh In On Caesarstone

Large investors have recently added to or reduced their stakes in the business. Jane Street Group LLC acquired a new stake in Caesarstone during the 2nd quarter valued at $263,000. Y Intercept Hong Kong Ltd bought a new position in shares of Caesarstone in the second quarter valued at about $212,000. GSA Capital Partners LLP bought a new position in shares of Caesarstone in the third quarter valued at about $89,000. Citadel Advisors LLC lifted its stake in shares of Caesarstone by 163.7% during the 3rd 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 last quarter. Finally, Qube Research & Technologies Ltd bought a new stake in shares of Caesarstone during the 2nd quarter worth about $56,000. Institutional investors own 33.70% of the company’s stock.

Caesarstone Stock Performance

NASDAQ:CSTE traded down $0.11 during mid-day trading on Friday, hitting $1.37. The stock had a trading volume of 103,968 shares, compared to its average volume of 89,584. Caesarstone has a twelve month low of $0.86 and a twelve month high of $3.86. The stock has a market cap of $47.33 million, a price-to-earnings ratio of -0.67 and a beta of -0.09. The company’s 50 day simple moving average is $2.00 and its 200 day simple moving average is $1.62.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen cut Caesarstone to a “strong sell” rating in a report on Friday, January 23rd. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has a consensus 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.