Caesarstone (NASDAQ:CSTE) Stock Crosses Above 200 Day Moving Average - Here's What Happened

Key Points

• Caesarstone shares rose above their 200-day moving average during Wednesday trading, reaching as high as $2.58 before last trading at $2.44. The 200-day average was $1.72.
• Analyst sentiment remains cautious, with Wall Street Zen upgrading the stock only from “strong sell” to “sell.” MarketBeat says the overall consensus rating is still Sell.
• Recent earnings showed mixed results: Caesarstone beat EPS estimates by $0.03, but revenue came in below expectations. The company also reported negative profit margins and return on equity.

Caesarstone Ltd. (NASDAQ:CSTE - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $1.72 and traded as high as $2.58. Caesarstone shares last traded at $2.44, with a volume of 135,997 shares changing hands.

Wall Street Analyst Weigh In

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

Caesarstone Trading Down 4.3%

The company has a market cap of $84.35 million, a price-to-earnings ratio of -0.58 and a beta of 0.36. The stock has a 50-day simple moving average of $1.90 and a 200-day simple moving average of $1.72.

Caesarstone (NASDAQ:CSTE - Get Free Report) last issued its quarterly earnings results on Thursday, May 14th. The construction company reported ($0.32) EPS for the quarter, beating analysts' consensus estimates of ($0.35) by $0.03. Caesarstone had a negative return on equity of 29.41% and a negative net margin of 37.70%.The company had revenue of $88.71 million for the quarter, compared to analyst estimates of $97.80 million.

Institutional Trading of Caesarstone

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Virtu Financial LLC acquired a new stake in shares of Caesarstone in the 4th quarter worth approximately $30,000. Pitcairn Co. bought a new position in shares of Caesarstone in the second quarter valued at approximately $31,000. Qube Research & Technologies Ltd acquired a new position in shares of Caesarstone during the second quarter valued at approximately $56,000. Empowered Funds LLC increased its stake in shares of Caesarstone by 10.7% during the first quarter. Empowered Funds LLC now owns 58,008 shares of the construction company's stock valued at $62,000 after acquiring an additional 5,584 shares during the period. Finally, Citadel Advisors LLC raised its holdings in Caesarstone by 163.7% during the third quarter. Citadel Advisors LLC now owns 63,589 shares of the construction company's stock worth $101,000 after purchasing an additional 39,474 shares in the last quarter. 33.70% of the stock is currently owned by institutional investors.

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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