Caesarstone (NASDAQ:CSTE) Share Price Crosses Above 200-Day Moving Average - Time to Sell?

Key Points

• Caesarstone shares rose above their 200-day moving average, reaching $2.97 before closing at $2.78, compared with a 200-day average of $2.15.
• Analyst sentiment remains cautious: Weiss Ratings maintained a “sell” rating, Wall Street Zen upgraded the stock to “hold,” and the overall MarketBeat consensus is “Sell.”
• Although quarterly EPS of negative $0.10 beat estimates, revenue fell short of expectations at $96.55 million, while the company continued to report substantial negative margins and return on equity.

Caesarstone Ltd. (NASDAQ:CSTE - Get Free Report) shares crossed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $2.15 and traded as high as $2.97. Caesarstone shares last traded at $2.78, with a volume of 30,850 shares traded.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CSTE. Weiss Ratings reiterated a "sell (d-)" rating on shares of Caesarstone in a report on Thursday, August 6th. Wall Street Zen raised Caesarstone from a "strong sell" rating to a "hold" rating in a report on Saturday, August 8th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently has an average rating of "Sell".

Caesarstone Price Performance

The company's 50 day moving average price is $2.91 and its two-hundred day moving average price is $2.15. The stock has a market capitalization of $96.10 million, a PE ratio of -0.67 and a beta of 0.41.

Caesarstone (NASDAQ:CSTE - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The construction company reported ($0.10) earnings per share 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 analyst estimates of $102.50 million. Caesarstone had a negative return on equity of 32.36% and a negative net margin of 37.37%.

Hedge Funds Weigh In On Caesarstone

An institutional investor recently raised its stake in Caesarstone stock. Empowered Funds LLC lifted its stake in Caesarstone Ltd. (NASDAQ:CSTE - Free Report) by 10.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 58,008 shares of the construction company's stock after acquiring an additional 5,584 shares during the quarter. Empowered Funds LLC owned 0.17% of Caesarstone worth $62,000 at the end of the most recent reporting period. Institutional investors own 33.70% of the company's stock.

About Caesarstone

Caesarstone Ltd. is a manufacturer and marketer of engineered stone and other surface materials used primarily in residential and commercial construction and renovation. The company is best known for quartz surfaces designed for kitchen countertops, bathroom vanities, backsplashes, flooring, wall cladding and other interior applications.

Its product portfolio also includes porcelain and natural stone surfaces, with designs offered in a range of colors, patterns and finishes. Caesarstone sells its products through distributors, retailers, fabricators, kitchen and bath specialists, and building-material channels to homeowners, designers, contractors, builders and commercial customers.

Founded in 1987, Caesarstone originated in Israel and expanded into international markets, serving customers across North America, Europe, Asia-Pacific and other regions.

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