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

Caesarstone Ltd. (NASDAQ:CSTE) saw a significant decline in short interest during the month of February. As of February 27th, there was short interest totaling 25,371 shares, a decline of 50.4% from the February 12th total of 51,156 shares. Currently, 0.1% of the company’s shares are short sold. Based on an average daily trading volume, of 100,069 shares, the short-interest ratio is presently 0.3 days. Based on an average daily trading volume, of 100,069 shares, the short-interest ratio is presently 0.3 days. Currently, 0.1% of the company’s shares are short sold.

Wall Street Analyst Weigh In

Separately, Wall Street Zen lowered shares of Caesarstone to a “strong sell” rating in a report on Friday, January 23rd. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock has a consensus rating of “Sell”.

Caesarstone Price Performance

Shares of NASDAQ:CSTE traded down $0.07 during mid-day trading on Friday, reaching $0.62. 39,195,989 shares of the company were exchanged, compared to its average volume of 356,848. Caesarstone has a 1 year low of $0.56 and a 1 year high of $3.26. The firm’s 50-day simple moving average is $1.83 and its 200 day simple moving average is $1.57. The firm has a market cap of $21.37 million, a price-to-earnings ratio of -0.16 and a beta of -0.03.

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

Institutional Trading of Caesarstone

Hedge funds have recently modified their holdings of the stock. Virtu Financial LLC acquired a new stake in Caesarstone in the 4th quarter valued at about $30,000. Citadel Advisors LLC lifted its holdings in shares of 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 purchasing an additional 39,474 shares during the last quarter. GSA Capital Partners LLP acquired a new position in Caesarstone during the third quarter worth approximately $89,000. Pitcairn Co. acquired a new position in shares of Caesarstone in the 2nd quarter valued at $31,000. Finally, Jane Street Group LLC purchased a new position in Caesarstone during the 2nd quarter worth $263,000. 33.70% of the stock is currently owned by institutional investors and hedge funds.

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.