Caesarstone (NASDAQ:CSTE) Stock Price Crosses Above 200 Day Moving Average – Time to Sell?

Caesarstone Ltd. (NASDAQ:CSTE)’s share price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $1.65 and traded as high as $1.9450. Caesarstone shares last traded at $1.83, with a volume of 68,091 shares changing hands.

Analyst Ratings Changes

Separately, Wall Street Zen raised Caesarstone from a “strong sell” rating to a “sell” rating in a report on Monday, May 25th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Sell”.

Caesarstone Price Performance

The business’s fifty day moving average is $1.65 and its two-hundred day moving average is $1.65. The stock has a market capitalization of $63.95 million, a PE ratio of -0.44 and a beta of 0.38.

Caesarstone (NASDAQ:CSTE) last released its quarterly earnings results on Thursday, May 14th. The construction company reported ($0.32) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.03. Caesarstone had a negative net margin of 37.70% and a negative return on equity of 29.41%. The company had revenue of $88.71 million for the quarter, compared to the consensus estimate of $97.80 million.

Institutional Trading of Caesarstone

Several hedge funds have recently made changes to their positions in the business. Qube Research & Technologies Ltd purchased a new position in Caesarstone in the second quarter worth about $56,000. Jane Street Group LLC purchased a new position in Caesarstone during the 2nd quarter worth $263,000. Pitcairn Co. purchased a new position in Caesarstone during the 2nd quarter worth $31,000. GSA Capital Partners LLP bought a new stake in Caesarstone during the 3rd quarter valued at $89,000. Finally, Citadel Advisors LLC raised its position in Caesarstone by 163.7% during the 3rd 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. 33.70% of the stock is currently owned by hedge funds and other institutional investors.

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.