Caesarstone's (CSTE) Sell (E+) Rating Reiterated at Weiss Ratings

Key Points

• Caesarstone's stock continues to hold a "sell (E+)" rating as reiterated by Weiss Ratings, indicating ongoing concerns about its financial performance.
• The company's share price fell by 1.3% to $1.52, with a significant market capitalization of $52.52 million and a 52-week trading range between $1.35 and $5.04.
• Approximately 33.70% of Caesarstone's stock is owned by hedge funds and institutional investors, with recent increases in holdings reported by firms like Bank of America and Charles Schwab.

Caesarstone (NASDAQ:CSTE - Get Free Report)'s stock had its "sell (e+)" rating reiterated by equities researchers at Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

Caesarstone Stock Down 1.3%

CSTE traded down $0.02 during trading hours on Wednesday, reaching $1.52. 24,065 shares of the company's stock traded hands, compared to its average volume of 91,632. The firm has a 50-day moving average price of $1.55 and a 200 day moving average price of $1.97. The firm has a market capitalization of $52.52 million, a PE ratio of -0.93 and a beta of 0.22. Caesarstone has a 52-week low of $1.35 and a 52-week high of $5.04.

Hedge Funds Weigh In On Caesarstone

A number of institutional investors have recently bought and sold shares of the business. Bank of America Corp DE increased its holdings in shares of Caesarstone by 18.0% during the 4th quarter. Bank of America Corp DE now owns 36,858 shares of the construction company's stock valued at $157,000 after purchasing an additional 5,618 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Caesarstone by 19.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 57,766 shares of the construction company's stock valued at $140,000 after acquiring an additional 9,403 shares during the last quarter. Global Alpha Capital Management Ltd. lifted its stake in Caesarstone by 2.8% during the first quarter. Global Alpha Capital Management Ltd. now owns 3,133,403 shares of the construction company's stock worth $7,614,000 after purchasing an additional 85,055 shares in the last quarter. Nuveen LLC purchased a new stake in Caesarstone during the first quarter worth about $68,000. Finally, Y Intercept Hong Kong Ltd purchased a new stake in Caesarstone during the second quarter worth about $212,000. 33.70% of the stock is owned by hedge funds and other institutional investors.

About Caesarstone

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.

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