Caesarstone (NASDAQ:CSTE) Share Price Passes Above 200-Day Moving Average - Should You Sell?

Key Points

• Caesarstone shares moved above their 200-day moving average, trading as high as $2.26 and last changing hands at $2.20. The stock’s 200-day average is $1.74, while its 50-day average is $2.00.
• Analyst sentiment remains weak after Wall Street Zen downgraded the stock from “strong sell” to “sell.” MarketBeat data still shows a consensus rating of “Sell.”
• Latest earnings were mixed: Caesarstone beat EPS expectations with a loss of $0.32 per share versus the $0.35 estimate, but revenue of $88.71 million fell short of the $97.80 million forecast.

Caesarstone Ltd. (NASDAQ:CSTE - Get Free Report) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $1.74 and traded as high as $2.26. Caesarstone shares last traded at $2.20, with a volume of 53,582 shares trading hands.

Analyst Ratings Changes

Separately, Wall Street Zen raised shares of Caesarstone from a "strong sell" rating to a "sell" rating in a report on Saturday, June 27th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, Caesarstone currently has a consensus rating of "Sell".

Caesarstone Stock Down 0.9%

The stock has a 50-day moving average of $2.00 and a 200 day moving average of $1.74. The company has a market capitalization of $76.05 million, a PE ratio of -0.52 and a beta of 0.36.

Caesarstone (NASDAQ:CSTE - Get Free Report) last posted its quarterly earnings data on Thursday, May 14th. The construction company reported ($0.32) earnings per share for the quarter, topping the consensus estimate of ($0.35) by $0.03. The business had revenue of $88.71 million for the quarter, compared to analysts' expectations of $97.80 million. Caesarstone had a negative return on equity of 29.41% and a negative net margin of 37.70%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Empowered Funds LLC lifted its stake in Caesarstone by 10.7% in the first quarter. Empowered Funds LLC now owns 58,008 shares of the construction company's stock valued at $62,000 after purchasing an additional 5,584 shares during the last quarter. Virtu Financial LLC purchased a new stake in Caesarstone in the fourth quarter worth $30,000. Citadel Advisors LLC increased its position in Caesarstone by 163.7% in the third quarter. Citadel Advisors LLC now owns 63,589 shares of the construction company's stock worth $101,000 after buying an additional 39,474 shares during the last quarter. Pitcairn Co. bought a new stake in shares of Caesarstone in the second quarter valued at $31,000. Finally, Jane Street Group LLC bought a new stake in shares of Caesarstone in the second quarter valued at $263,000. 33.70% of the stock is currently owned by hedge funds and other institutional investors.

Caesarstone Company Profile

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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