Caesarstone Ltd. (NASDAQ:CSTE) Short Interest Down 29.5% in January

Caesarstone Ltd. (NASDAQ:CSTE) was the target of a significant decrease in short interest in the month of January. As of January 15th, there was short interest totaling 112,113 shares, a decrease of 29.5% from the December 31st total of 158,945 shares. Based on an average daily trading volume, of 91,267 shares, the short-interest ratio is presently 1.2 days. Currently, 0.3% of the shares of the company are sold short. Currently, 0.3% of the shares of the company are sold short. Based on an average daily trading volume, of 91,267 shares, the short-interest ratio is presently 1.2 days.

Caesarstone Price Performance

NASDAQ:CSTE opened at $2.18 on Friday. The firm has a market capitalization of $75.32 million, a P/E ratio of -1.07 and a beta of -0.09. Caesarstone has a 12-month low of $0.86 and a 12-month high of $4.67. The business has a 50 day simple moving average of $1.84 and a 200 day simple moving average of $1.59.

Caesarstone (NASDAQ:CSTE) last posted its quarterly earnings data 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 company had revenue of $102.11 million for the quarter, compared to the consensus estimate of $97.60 million.

Institutional Investors Weigh In On Caesarstone

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Simplex Trading LLC bought a new stake in Caesarstone in the second quarter valued at approximately $26,000. Pitcairn Co. acquired a new stake in shares of Caesarstone during the second quarter worth $31,000. Quadrature Capital Ltd bought a new position in Caesarstone during the second quarter worth $36,000. Qube Research & Technologies Ltd acquired a new position in Caesarstone in the second quarter valued at $56,000. Finally, GSA Capital Partners LLP bought a new stake in Caesarstone during the third quarter valued at $89,000. Institutional investors and hedge funds own 33.70% of the company’s stock.

Wall Street Analysts Forecast Growth

CSTE has been the subject of several recent research reports. Wall Street Zen lowered shares of Caesarstone to a “strong sell” rating in a research report on Friday, January 23rd. Weiss Ratings reiterated a “sell (e+)” rating on shares of Caesarstone in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Sell”.

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.