Caesarstone (NASDAQ:CSTE) Shares Cross Above 200-Day Moving Average - What's Next?

Key Points

• Caesarstone shares rose above their 200-day moving average, reaching $3.48 before last trading at $3.28, compared with a 200-day average of $1.84.
• Analysts remain cautious: Weiss Ratings maintained a “sell” rating, Wall Street Zen upgraded the stock to “hold,” and MarketBeat reports a consensus “sell” rating.
• Caesarstone beat quarterly EPS estimates with a loss of $0.10 per share versus expectations of $0.26, but revenue of $96.55 million fell short of the $102.50 million consensus; profitability remained weak with a negative 37.37% net margin.

Caesarstone Ltd. (NASDAQ:CSTE - Get Free Report)'s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $1.84 and traded as high as $3.48. Caesarstone shares last traded at $3.28, with a volume of 77,722 shares traded.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on CSTE shares. Weiss Ratings reiterated a "sell (d-)" rating on shares of Caesarstone in a report on Thursday, August 6th. Wall Street Zen upgraded shares of 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, According to data from MarketBeat, the company has a consensus rating of "Sell".

Caesarstone Stock Down 2.7%

The stock has a 50-day simple moving average of $2.47 and a 200 day simple moving average of $1.84. The company has a market cap of $113.39 million, a PE ratio of -0.79 and a beta of 0.37.

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

Institutional Investors Weigh In On Caesarstone

Institutional investors have recently made changes to their positions in the stock. Pitcairn Co. acquired a new position in shares of Caesarstone in the 2nd quarter worth approximately $31,000. Virtu Financial LLC acquired a new stake in Caesarstone in the 4th quarter valued at approximately $30,000. Qube Research & Technologies Ltd acquired a new stake in Caesarstone in the 2nd quarter valued at approximately $56,000. Empowered Funds LLC increased its holdings in Caesarstone by 10.7% in the 1st 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 last quarter. Finally, Citadel Advisors LLC raised its position in 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 purchasing an additional 39,474 shares during the period. 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.

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