Caesarstone (NASDAQ:CSTE) Stock Passes Above 200-Day Moving Average - Here's Why

Key Points

• Caesarstone shares crossed above their 200-day moving average, reaching $3.48 before closing at $3.43, compared with a 200-day average of $1.78.
• Despite beating quarterly EPS expectations, Caesarstone reported revenue below consensus and continued to post substantial losses, including a negative net margin of 37.37%.
• Analyst sentiment remains bearish: the company carries an average “Sell” rating, while institutional investors own 33.70% of its shares and some firms recently increased their positions.

Caesarstone Ltd. (NASDAQ:CSTE - Get Free Report) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $1.78 and traded as high as $3.48. Caesarstone shares last traded at $3.43, with a volume of 181,976 shares traded.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on CSTE shares. Wall Street Zen upgraded Caesarstone from a "strong sell" rating to a "hold" rating in a report on Saturday, August 8th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Caesarstone in a report on Thursday, August 6th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, Caesarstone currently has an average rating of "Sell".

Caesarstone Price Performance

The stock has a market cap of $118.58 million, a PE ratio of -0.83 and a beta of 0.37. The stock's fifty day moving average is $2.24 and its 200-day moving average is $1.78.

Caesarstone (NASDAQ:CSTE - Get Free Report) last issued its earnings results on Wednesday, August 5th. The construction company reported ($0.10) EPS for the quarter, topping analysts' consensus estimates of ($0.26) by $0.16. The company had revenue of $96.55 million for the quarter, compared to the consensus estimate of $102.50 million. Caesarstone had a negative net margin of 37.37% and a negative return on equity of 32.36%.

Institutional Trading of Caesarstone

Institutional investors have recently made changes to their positions in the company. Jane Street Group LLC acquired a new position in Caesarstone in the second quarter valued at approximately $263,000. Citadel Advisors LLC increased its stake 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 acquiring an additional 39,474 shares during the last quarter. Empowered Funds LLC raised its position 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 period. Qube Research & Technologies Ltd purchased a new stake in Caesarstone in the second quarter valued at $56,000. Finally, Virtu Financial LLC acquired a new position in shares of Caesarstone in the 4th quarter valued at $30,000. Hedge funds and other institutional investors own 33.70% of the company's stock.

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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