Caesarstone (NASDAQ:CSTE) Shares Cross Above 200 Day Moving Average of $4.13

Caesarstone Ltd. (NASDAQ:CSTE)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $4.13 and traded as high as $5.87. Caesarstone shares last traded at $5.45, with a volume of 66,158 shares.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of Caesarstone from a “buy” rating to a “hold” rating in a research report on Thursday, February 22nd.

Caesarstone Price Performance

The company has a current ratio of 2.64, a quick ratio of 1.51 and a debt-to-equity ratio of 0.01. The company’s fifty day moving average is $4.36 and its two-hundred day moving average is $4.15. The stock has a market cap of $187.84 million, a price-to-earnings ratio of -1.74 and a beta of 0.40.

Caesarstone (NASDAQ:CSTE) last issued its quarterly earnings data on Wednesday, February 21st. The construction company reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.02). Caesarstone had a negative net margin of 19.05% and a negative return on equity of 12.71%. The firm had revenue of $128.53 million during the quarter, compared to analyst estimates of $124.94 million. During the same period in the previous year, the firm posted ($0.03) earnings per share. As a group, research analysts predict that Caesarstone Ltd. will post -0.43 earnings per share for the current year.

Institutional Trading of Caesarstone

Institutional investors and hedge funds have recently bought and sold shares of the business. UBS Group AG grew its holdings in shares of Caesarstone by 113.5% in the third quarter. UBS Group AG now owns 3,185 shares of the construction company’s stock valued at $30,000 after purchasing an additional 1,693 shares in the last quarter. Y.D. More Investments Ltd acquired a new position in shares of Caesarstone in the third quarter worth $45,000. BNP Paribas Arbitrage SNC increased its position in shares of Caesarstone by 87.0% during the third quarter. BNP Paribas Arbitrage SNC now owns 10,790 shares of the construction company’s stock worth $100,000 after acquiring an additional 5,020 shares during the period. Hsbc Holdings PLC acquired a new stake in shares of Caesarstone in the first quarter valued at $142,000. Finally, Deutsche Bank AG boosted its holdings in Caesarstone by 47.5% in the first quarter. Deutsche Bank AG now owns 13,821 shares of the construction company’s stock valued at $57,000 after purchasing an additional 4,454 shares during the period. 33.70% of the stock is currently owned by hedge funds and other institutional investors.

About Caesarstone

Caesarstone Ltd., together with its subsidiaries, designs, develops, manufactures, and markets engineered stone and other materials under the Caesarstone brand in the United States, Canada, Latin America, Australia, Asia, Europe, the Middle East and Africa, and Israel. The company's engineered stone slabs are primarily used as indoor and outdoor kitchen countertops in the renovation and remodeling, and residential construction sectors.