Caesarstone Ltd. (NASDAQ:CSTE) Short Interest Update

Caesarstone Ltd. (NASDAQ:CSTE) saw a large increase in short interest in the month of March. As of March 15th, there was short interest totalling 247,500 shares, an increase of 22.5% from the February 28th total of 202,000 shares. Currently, 1.2% of the shares of the stock are sold short. Based on an average trading volume of 48,600 shares, the short-interest ratio is presently 5.1 days.

Caesarstone Stock Up 2.5 %

Caesarstone stock traded up $0.06 during midday trading on Wednesday, hitting $2.50. The company’s stock had a trading volume of 40,323 shares, compared to its average volume of 49,869. Caesarstone has a 12 month low of $2.35 and a 12 month high of $6.81. The stock’s 50-day moving average price is $3.60 and its 200-day moving average price is $4.12. The company has a market capitalization of $86.37 million, a PE ratio of -1.24 and a beta of 0.10.

Caesarstone (NASDAQ:CSTE) last issued its earnings results on Wednesday, March 5th. The construction company reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.12). Caesarstone had a negative return on equity of 9.61% and a negative net margin of 14.56%. The business had revenue of $97.86 million for the quarter, compared to the consensus estimate of $99.40 million. During the same quarter in the previous year, the business posted ($0.28) earnings per share.

Analyst Upgrades and Downgrades

Separately, StockNews.com assumed coverage on Caesarstone in a report on Tuesday, March 11th. They set a “hold” rating on the stock.

Institutional Investors Weigh In On Caesarstone

Hedge funds have recently modified their holdings of the stock. Two Sigma Securities LLC purchased a new stake in Caesarstone during the fourth quarter valued at about $46,000. Wells Fargo & Company MN lifted its position in shares of Caesarstone by 27.9% in the 4th quarter. Wells Fargo & Company MN now owns 12,148 shares of the construction company’s stock valued at $52,000 after acquiring an additional 2,647 shares in the last quarter. Jane Street Group LLC acquired a new position in Caesarstone in the 3rd quarter worth approximately $55,000. Bank of America Corp DE boosted its stake in Caesarstone by 18.0% in the 4th quarter. Bank of America Corp DE now owns 36,858 shares of the construction company’s stock worth $157,000 after purchasing an additional 5,618 shares during the period. Finally, JPMorgan Chase & Co. grew its position in Caesarstone by 189.5% during the 3rd 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 in the last quarter. 33.70% of the stock is 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.