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

Caesarstone Ltd. (NASDAQ:CSTE) saw a large increase in short interest during the month of March. As of March 13th, there was short interest totaling 293,524 shares, an increase of 1,056.9% from the February 26th total of 25,371 shares. Approximately 0.8% of the shares of the company are short sold. Based on an average daily volume of 4,512,249 shares, the short-interest ratio is presently 0.1 days. Based on an average daily volume of 4,512,249 shares, the short-interest ratio is presently 0.1 days. Approximately 0.8% of the shares of the company are short sold.

Analyst Ratings Changes

Separately, Wall Street Zen raised shares of Caesarstone to a “sell” rating in a report on Saturday. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has an average rating of “Sell”.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CSTE. Virtu Financial LLC purchased a new stake in shares of Caesarstone during the fourth quarter worth about $30,000. Citadel Advisors LLC lifted its stake in Caesarstone by 163.7% in the 3rd quarter. Citadel Advisors LLC now owns 63,589 shares of the construction company’s stock valued at $101,000 after buying an additional 39,474 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in Caesarstone in the 3rd quarter worth about $89,000. Pitcairn Co. acquired a new stake in Caesarstone in the 2nd quarter worth about $31,000. Finally, Jane Street Group LLC purchased a new stake in Caesarstone during the 2nd quarter worth approximately $263,000. Institutional investors and hedge funds own 33.70% of the company’s stock.

Caesarstone Trading Down 6.2%

Shares of CSTE stock traded down $0.07 during mid-day trading on Tuesday, reaching $1.06. The stock had a trading volume of 360,068 shares, compared to its average volume of 2,933,068. Caesarstone has a 1-year low of $0.56 and a 1-year high of $3.26. The firm has a market cap of $36.64 million, a price-to-earnings ratio of -0.27 and a beta of -0.03. The business’s fifty day moving average is $1.67 and its 200-day moving average is $1.55.

Caesarstone (NASDAQ:CSTE) last issued its earnings results on Wednesday, March 4th. The construction company reported ($0.48) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.38) by ($0.10). The business had revenue of $94.44 million for the quarter, compared to analysts’ expectations of $93.70 million. Caesarstone had a negative return on equity of 24.33% and a negative net margin of 34.60%.

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.