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

Caesarstone Ltd. (NASDAQ:CSTE) saw a significant decline in short interest during the month of January. As of January 30th, there was short interest totaling 96,392 shares, a decline of 14.0% from the January 15th total of 112,113 shares. Based on an average daily volume of 113,038 shares, the short-interest ratio is currently 0.9 days. Currently, 0.3% of the shares of the stock are short sold. Currently, 0.3% of the shares of the stock are short sold. Based on an average daily volume of 113,038 shares, the short-interest ratio is currently 0.9 days.

Wall Street Analyst Weigh In

Separately, Wall Street Zen lowered Caesarstone to a “strong sell” rating in a report on Friday, January 23rd. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Caesarstone presently has a consensus rating of “Sell”.

Caesarstone Price Performance

Caesarstone stock opened at $2.16 on Wednesday. The company has a market cap of $74.63 million, a price-to-earnings ratio of -1.06 and a beta of -0.09. The firm has a 50-day moving average of $2.02 and a 200-day moving average of $1.62. Caesarstone has a one year low of $0.86 and a one year high of $4.14.

Institutional Investors Weigh In On Caesarstone

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