Caesarstone (NASDAQ:CSTE – Get Free Report) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Tuesday.
Caesarstone Stock Performance
Shares of NASDAQ:CSTE opened at $4.33 on Tuesday. Caesarstone has a 52-week low of $3.76 and a 52-week high of $6.81. The company has a market capitalization of $149.52 million, a PE ratio of -2.15 and a beta of 0.18. The company has a fifty day moving average of $4.38 and a 200-day moving average of $4.68.
Institutional Trading of Caesarstone
Hedge funds have recently made changes to their positions in the company. Jane Street Group LLC acquired a new position in shares of Caesarstone in the third quarter valued at approximately $55,000. Acadian Asset Management LLC acquired a new position in Caesarstone in the 2nd quarter valued at approximately $106,000. Rhumbline Advisers acquired a new position in Caesarstone in the 2nd quarter valued at approximately $107,000. Empowered Funds LLC bought a new position in shares of Caesarstone during the third quarter valued at $164,000. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Caesarstone by 189.5% during the third quarter. JPMorgan Chase & Co. now owns 40,797 shares of the construction company’s stock worth $186,000 after purchasing an additional 26,705 shares during the period. 33.70% of the stock is owned by institutional investors and hedge funds.
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.
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