Caesarstone Ltd. (NASDAQ:CSTE) Short Interest Update

Caesarstone Ltd. (NASDAQ:CSTE) was the recipient of a large decrease in short interest in the month of April. As of April 15th, there was short interest totaling 512,945 shares, a decrease of 21.3% from the March 31st total of 651,844 shares. Currently, 1.5% of the shares of the company are short sold. Based on an average daily trading volume, of 388,850 shares, the days-to-cover ratio is presently 1.3 days.

Caesarstone Trading Down 3.8%

CSTE opened at $1.28 on Friday. The company has a market cap of $44.25 million, a price-to-earnings ratio of -0.32 and a beta of 0.23. The company’s 50 day moving average is $1.23 and its 200 day moving average is $1.52. Caesarstone has a 12-month low of $0.56 and a 12-month high of $2.62.

Caesarstone (NASDAQ:CSTE) last announced 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). Caesarstone had a negative net margin of 34.60% and a negative return on equity of 24.33%. The business had revenue of $94.44 million for the quarter, compared to the consensus estimate of $93.70 million.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen cut Caesarstone from a “sell” rating to a “strong sell” rating in a research report on Saturday, April 11th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has a consensus rating of “Sell”.

Institutional Investors Weigh In On Caesarstone

A number of hedge funds have recently modified their holdings of CSTE. Virtu Financial LLC bought a new position in Caesarstone in the 4th quarter worth $30,000. Pitcairn Co. bought a new stake in Caesarstone during the second quarter valued at about $31,000. Qube Research & Technologies Ltd bought a new stake in Caesarstone during the second quarter valued at about $56,000. GSA Capital Partners LLP purchased a new stake in Caesarstone in the third quarter worth about $89,000. Finally, Citadel Advisors LLC increased its position in 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 in the last quarter. Institutional investors own 33.70% of the company’s stock.

Caesarstone Company Profile

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.