Caesarstone Ltd. (NASDAQ:CSTE) Short Interest Update

Caesarstone Ltd. (NASDAQ:CSTE) was the target of a significant drop in short interest during the month of January. As of January 15th, there was short interest totaling 112,113 shares, a drop of 29.5% from the December 31st total of 158,945 shares. Approximately 0.3% of the shares of the company are short sold. 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. Approximately 0.3% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on CSTE shares. Wall Street Zen downgraded shares of Caesarstone to a “strong sell” rating in a report on Friday, January 23rd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Caesarstone in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has an average rating of “Sell”.

Caesarstone Price Performance

Shares of CSTE traded down $0.07 during trading hours on Friday, hitting $2.18. The stock had a trading volume of 38,113 shares, compared to its average volume of 98,550. The stock has a market capitalization of $75.32 million, a price-to-earnings ratio of -1.07 and a beta of -0.09. The company’s fifty day moving average is $1.84 and its two-hundred day moving average is $1.58. Caesarstone has a 52 week low of $0.86 and a 52 week high of $4.67.

Caesarstone (NASDAQ:CSTE) last released its quarterly earnings results on Wednesday, November 12th. The construction company reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $102.11 million for the quarter, compared to the consensus estimate of $97.60 million.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Jane Street Group LLC bought a new stake in Caesarstone during the 2nd quarter worth about $263,000. Y Intercept Hong Kong Ltd bought a new stake in shares of Caesarstone during the second quarter valued at approximately $212,000. GSA Capital Partners LLP bought a new stake in shares of Caesarstone during the third quarter valued at approximately $89,000. Citadel Advisors LLC increased its holdings 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 valued at $101,000 after purchasing an additional 39,474 shares in the last quarter. Finally, Qube Research & Technologies Ltd bought a new position in Caesarstone in the 2nd quarter worth approximately $56,000. Institutional investors and hedge funds 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.