Caesarstone Ltd. (NASDAQ:CSTE) Short Interest Update

Caesarstone Ltd. (NASDAQ:CSTE) was the target of a significant increase in short interest in March. As of March 15th, there was short interest totalling 247,500 shares, an increase of 22.5% from the February 28th total of 202,000 shares. Based on an average daily volume of 48,600 shares, the short-interest ratio is presently 5.1 days. Currently, 1.2% of the shares of the stock are sold short.

Caesarstone Price Performance

Shares of NASDAQ:CSTE opened at $2.43 on Tuesday. Caesarstone has a 1 year low of $2.40 and a 1 year high of $6.81. The firm has a market capitalization of $83.95 million, a PE ratio of -1.21 and a beta of 0.10. The business’s 50 day moving average price is $3.64 and its 200-day moving average price is $4.14.

Caesarstone (NASDAQ:CSTE) last announced its earnings results on Wednesday, March 5th. The construction company reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.12). The business had revenue of $97.86 million for the quarter, compared to analyst estimates of $99.40 million. Caesarstone had a negative return on equity of 9.61% and a negative net margin of 14.56%. During the same period last year, the firm earned ($0.28) EPS.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on shares of Caesarstone in a research note on Tuesday, March 11th. They set a “hold” rating for the company.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Two Sigma Securities LLC acquired a new stake in shares of Caesarstone in the fourth quarter valued at approximately $46,000. Wells Fargo & Company MN increased its stake in shares of Caesarstone by 27.9% in the 4th quarter. Wells Fargo & Company MN now owns 12,148 shares of the construction company’s stock worth $52,000 after acquiring an additional 2,647 shares during the last quarter. Jane Street Group LLC purchased a new position in shares of Caesarstone during the 3rd quarter worth $55,000. Bank of America Corp DE raised 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 worth $157,000 after acquiring an additional 5,618 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in shares of Caesarstone by 189.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 40,797 shares of the construction company’s stock valued at $186,000 after acquiring an additional 26,705 shares during the last quarter. 33.70% of the stock is owned by hedge funds and other institutional investors.

Caesarstone Company Profile

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.