Short Interest in Caesarstone Ltd. (NASDAQ:CSTE) Drops By 14.0%

Caesarstone Ltd. (NASDAQ:CSTE) was the recipient of a large drop in short interest in January. As of January 30th, there was short interest totaling 96,392 shares, a drop of 14.0% from the January 15th total of 112,113 shares. Approximately 0.3% of the shares of the stock are sold short. Based on an average daily volume of 113,038 shares, the days-to-cover ratio is presently 0.9 days. Based on an average daily volume of 113,038 shares, the days-to-cover ratio is presently 0.9 days. Approximately 0.3% of the shares of the stock are sold short.

Institutional Trading of Caesarstone

Several hedge funds have recently added to or reduced their stakes in the stock. Simplex Trading LLC bought a new stake in shares of Caesarstone during the second quarter valued at about $26,000. Pitcairn Co. bought a new stake in Caesarstone during the 2nd quarter worth approximately $31,000. Quadrature Capital Ltd purchased a new stake in Caesarstone in the 2nd quarter worth approximately $36,000. Qube Research & Technologies Ltd bought a new position in Caesarstone in the 2nd quarter valued at $56,000. Finally, GSA Capital Partners LLP purchased a new position in shares of Caesarstone during the 3rd quarter valued at $89,000. Institutional investors own 33.70% of the company’s stock.

Wall Street Analyst Weigh In

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

Caesarstone Trading Down 0.2%

NASDAQ CSTE traded down $0.01 during trading hours on Tuesday, hitting $2.11. The company’s stock had a trading volume of 34,281 shares, compared to its average volume of 95,528. Caesarstone has a 52 week low of $0.86 and a 52 week high of $4.14. The company has a market capitalization of $72.73 million, a PE ratio of -1.04 and a beta of -0.09. The company’s 50-day simple moving average is $2.01 and its two-hundred day simple moving average is $1.62.

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.