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

by · The Markets Daily

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

Caesarstone Stock Performance

Shares of CSTE stock traded down $0.05 on Thursday, reaching $0.69. The stock had a trading volume of 364,478 shares, compared to its average volume of 342,908. Caesarstone has a 1 year low of $0.68 and a 1 year high of $3.28. The company has a 50 day simple moving average of $1.85 and a 200 day simple moving average of $1.58.

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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Simplex Trading LLC bought a new stake in shares of Caesarstone during the 2nd quarter valued at $26,000. Quadrature Capital Ltd bought a new position in Caesarstone in the 2nd quarter worth $36,000. Qube Research & Technologies Ltd purchased a new position in Caesarstone during the second quarter valued at $56,000. Jane Street Group LLC purchased a new position in Caesarstone during the second quarter valued at $263,000. Finally, Pitcairn Co. bought a new stake in Caesarstone during the second quarter valued at about $31,000. 33.70% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Check Out Our Latest Report on CSTE

About Caesarstone

(Get Free Report)

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.

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