Caesarstone Ltd. (NASDAQ:CSTE) Short Interest Update

Key Points

• Caesarstone Ltd. experienced a 19.9% decrease in short interest in August, with a total of 33,800 shares shorted as of August 31st.
• Institutional investors and hedge funds hold 33.70% of Caesarstone's stock, indicating interest from larger financial entities.
• The company's stock is currently trading around $1.52, with a market cap of $52.65 million and a 52-week price range of $1.35 to $5.04.

Caesarstone Ltd. (NASDAQ:CSTE - Get Free Report) was the target of a large drop in short interest in the month of August. As of August 31st, there was short interest totaling 33,800 shares, a drop of 19.9% from the August 15th total of 42,200 shares. Approximately 0.2% of the shares of the company are sold short. Based on an average daily volume of 106,700 shares, the days-to-cover ratio is currently 0.3 days. Based on an average daily volume of 106,700 shares, the days-to-cover ratio is currently 0.3 days. Approximately 0.2% of the shares of the company are sold short.

Caesarstone Stock Performance

Shares of CSTE traded down $0.01 during trading hours on Monday, hitting $1.59. The stock had a trading volume of 76,623 shares, compared to its average volume of 94,483. The firm has a 50-day moving average price of $1.60 and a 200 day moving average price of $2.08. Caesarstone has a fifty-two week low of $1.35 and a fifty-two week high of $5.04. The firm has a market capitalization of $54.93 million, a price-to-earnings ratio of -0.98 and a beta of 0.23.

Institutional Trading of Caesarstone

Institutional investors and hedge funds have recently made changes to their positions in the business. Global Alpha Capital Management Ltd. grew its stake in Caesarstone by 2.8% in the 1st quarter. Global Alpha Capital Management Ltd. now owns 3,133,403 shares of the construction company's stock valued at $7,614,000 after acquiring an additional 85,055 shares during the period. Northern Trust Corp grew its position in shares of Caesarstone by 100.6% in the fourth quarter. Northern Trust Corp now owns 287,067 shares of the construction company's stock valued at $1,220,000 after purchasing an additional 143,963 shares during the period. Jane Street Group LLC purchased a new stake in shares of Caesarstone during the second quarter worth about $263,000. Y Intercept Hong Kong Ltd acquired a new position in shares of Caesarstone during the 2nd quarter worth about $212,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in Caesarstone by 19.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 57,766 shares of the construction company's stock valued at $140,000 after buying an additional 9,403 shares in the last quarter. 33.70% of the stock is currently owned by hedge funds and other institutional investors.

Caesarstone Company Profile

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.