Caesarstone Ltd. (NASDAQ:CSTE) Short Interest Up 31.8% in April

Caesarstone Ltd. (NASDAQ:CSTE - Get Free Report) was the target of a significant growth in short interest in April. As of April 15th, there was short interest totalling 378,100 shares, a growth of 31.8% from the March 31st total of 286,900 shares. Based on an average trading volume of 73,500 shares, the short-interest ratio is currently 5.1 days. Approximately 1.8% of the company's stock are short sold.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on shares of Caesarstone in a research note on Tuesday, March 11th. They set a "hold" rating for the company.

Hedge Funds Weigh In On Caesarstone

A number of hedge funds have recently added to or reduced their stakes in the company. Global Alpha Capital Management Ltd. increased its holdings in shares of Caesarstone by 1.0% in the 4th quarter. Global Alpha Capital Management Ltd. now owns 3,048,348 shares of the construction company's stock worth $12,955,000 after purchasing an additional 29,100 shares in the last quarter. RBF Capital LLC boosted its position in shares of Caesarstone by 3.8% during the fourth quarter. RBF Capital LLC now owns 388,107 shares of the construction company's stock valued at $1,658,000 after buying an additional 14,214 shares during the last quarter. Northern Trust Corp increased its holdings in Caesarstone by 100.6% in the 4th quarter. Northern Trust Corp now owns 287,067 shares of the construction company's stock worth $1,220,000 after buying an additional 143,963 shares in the last quarter. State Street Corp raised its position in Caesarstone by 1.6% in the 3rd quarter. State Street Corp now owns 163,335 shares of the construction company's stock worth $745,000 after buying an additional 2,640 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in Caesarstone by 98.8% during the 4th quarter. JPMorgan Chase & Co. now owns 81,088 shares of the construction company's stock valued at $345,000 after acquiring an additional 40,291 shares during the period. 33.70% of the stock is currently owned by hedge funds and other institutional investors.

Caesarstone Stock Up 2.8 %

Shares of NASDAQ CSTE traded up $0.07 during trading on Friday, reaching $2.57. The company had a trading volume of 34,254 shares, compared to its average volume of 76,686. Caesarstone has a 12-month low of $2.25 and a 12-month high of $6.75. The business's 50-day moving average is $2.90 and its 200 day moving average is $3.81. The stock has a market cap of $88.79 million, a PE ratio of -1.28 and a beta of 0.28.

Caesarstone (NASDAQ:CSTE - Get Free Report) last announced its quarterly earnings data on Wednesday, March 5th. The construction company reported ($0.35) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.12). The firm had revenue of $97.86 million for the quarter, compared to analysts' expectations of $99.40 million. Caesarstone had a negative net margin of 14.56% and a negative return on equity of 9.61%. During the same period last year, the company posted ($0.28) earnings per share.

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.