Caesarstone Ltd. (NASDAQ:CSTE) Short Interest Up 122.1% in March

Key Points

• Short interest surged 122.1% in March to 651,844 shares (about 1.9% of the company's shares), though the short-interest ratio is low at 0.5 days on average volume.
• Institutional ownership stands at 33.7%, with notable activity including Citadel Advisors boosting its stake 163.7% to 63,589 shares and several firms (Jane Street, GSA, Qube, Virtu) initiating small positions.
• Analyst sentiment and fundamentals are weak: Wall Street Zen cut its rating to "strong sell" and MarketBeat's consensus is "Sell," while the stock trades at $1.57 (up 10.6%) with a $54.3M market cap and reported negative EPS and margins.

Caesarstone Ltd. (NASDAQ:CSTE - Get Free Report) saw a significant growth in short interest in the month of March. As of March 31st, there was short interest totaling 651,844 shares, a growth of 122.1% from the March 15th total of 293,524 shares. Approximately 1.9% of the company's shares are short sold. Based on an average daily volume of 1,233,418 shares, the short-interest ratio is presently 0.5 days.

Institutional Investors Weigh In On Caesarstone

Several large investors have recently modified their holdings of the company. Jane Street Group LLC acquired a new stake in shares of Caesarstone in the second quarter valued at approximately $263,000. Citadel Advisors LLC boosted its holdings in shares of Caesarstone by 163.7% in the third quarter. Citadel Advisors LLC now owns 63,589 shares of the construction company's stock valued at $101,000 after acquiring an additional 39,474 shares during the period. GSA Capital Partners LLP acquired a new stake in shares of Caesarstone in the third quarter valued at approximately $89,000. Qube Research & Technologies Ltd acquired a new stake in shares of Caesarstone in the second quarter valued at approximately $56,000. Finally, Virtu Financial LLC acquired a new stake in shares of Caesarstone in the fourth quarter valued at approximately $30,000. 33.70% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen lowered shares of Caesarstone from a "sell" rating to a "strong sell" rating in a research note on Saturday. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Caesarstone presently has an average rating of "Sell".

Caesarstone Stock Up 10.6%

CSTE traded up $0.15 on Friday, reaching $1.57. The company's stock had a trading volume of 741,208 shares, compared to its average volume of 2,821,201. The stock has a 50 day moving average of $1.41 and a two-hundred day moving average of $1.52. The company has a market capitalization of $54.28 million, a price-to-earnings ratio of -0.39 and a beta of 0.04. Caesarstone has a fifty-two week low of $0.56 and a fifty-two week high of $3.26.

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

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.

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