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

Key Points

• Caesarstone (CSTE) crossed above its 200-day moving average
• Analysts are bearish: Wall Street Zen downgraded the stock to a strong sell, and MarketBeat shows a consensus Sell rating.
• The company has weak fundamentals, with a market cap of about $57.7 million, a negative EPS (loss of $0.48 last quarter) and a negative net margin of roughly -34.6%.

Caesarstone Ltd. (NASDAQ:CSTE - Get Free Report) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $1.52 and traded as high as $1.7250. Caesarstone shares last traded at $1.67, with a volume of 130,050 shares trading hands.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded shares of Caesarstone from a "sell" rating to a "strong sell" rating in a research report on Saturday, April 11th. One analyst has rated the stock with a Sell rating, According to MarketBeat, Caesarstone has a consensus rating of "Sell".

Caesarstone Stock Performance

The stock has a market capitalization of $57.73 million, a price-to-earnings ratio of -0.42 and a beta of 0.04. The firm's fifty day simple moving average is $1.32 and its 200 day simple moving average is $1.52.

Caesarstone (NASDAQ:CSTE - Get Free Report) last announced its earnings results on Wednesday, March 4th. The construction company reported ($0.48) EPS for the quarter, missing the consensus estimate of ($0.38) by ($0.10). Caesarstone had a negative return on equity of 24.33% and a negative net margin of 34.60%.The company had revenue of $94.44 million for the quarter, compared to analyst estimates of $93.70 million.

Institutional Trading of Caesarstone

A number of hedge funds and other institutional investors have recently made changes to their positions in CSTE. Virtu Financial LLC acquired a new stake in shares of Caesarstone in the fourth quarter valued at approximately $30,000. Pitcairn Co. acquired a new stake in shares of Caesarstone in the second quarter valued at approximately $31,000. Qube Research & Technologies Ltd acquired a new stake in shares of Caesarstone in the second quarter valued at approximately $56,000. GSA Capital Partners LLP acquired a new stake in shares of Caesarstone in the third quarter valued at approximately $89,000. Finally, Citadel Advisors LLC grew its stake in shares of Caesarstone by 163.7% in the third quarter. Citadel Advisors LLC now owns 63,589 shares of the construction company's stock valued at $101,000 after buying an additional 39,474 shares in the last quarter. 33.70% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.