Caesarstone Ltd (NASDAQ:CSTE) Short Interest Update

Caesarstone Ltd (NASDAQ:CSTE) saw a large decrease in short interest during the month of January. As of January 31st, there was short interest totalling 147,000 shares, a decrease of 8.5% from the January 15th total of 160,700 shares. Based on an average trading volume of 97,400 shares, the days-to-cover ratio is currently 1.5 days. Currently, 0.6% of the company’s shares are short sold.

A number of analysts have recently commented on the company. Stifel Nicolaus cut Caesarstone from a “buy” rating to a “hold” rating and lowered their price target for the company from $19.00 to $12.00 in a research note on Wednesday. Zacks Investment Research raised Caesarstone from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 7th. Finally, BidaskClub cut Caesarstone from a “sell” rating to a “strong sell” rating in a research note on Tuesday, December 10th.

NASDAQ CSTE traded up $0.03 during trading hours on Friday, reaching $11.65. 187,256 shares of the company’s stock were exchanged. The company’s 50-day moving average is $14.35 and its two-hundred day moving average is $15.40. Caesarstone has a one year low of $11.13 and a one year high of $17.85.

Caesarstone (NASDAQ:CSTE) last posted its earnings results on Wednesday, February 12th. The construction company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.09). The company had revenue of $133.87 million during the quarter, compared to analyst estimates of $138.99 million. On average, analysts predict that Caesarstone will post 0.8 EPS for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Cubist Systematic Strategies LLC bought a new stake in Caesarstone during the 4th quarter worth approximately $174,000. Marshall Wace LLP increased its stake in Caesarstone by 1,471.0% during the 4th quarter. Marshall Wace LLP now owns 31,468 shares of the construction company’s stock worth $474,000 after purchasing an additional 29,465 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Caesarstone by 88.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 84,683 shares of the construction company’s stock worth $1,276,000 after purchasing an additional 39,641 shares in the last quarter. UBS Group AG increased its stake in Caesarstone by 66.2% during the 4th quarter. UBS Group AG now owns 29,144 shares of the construction company’s stock worth $439,000 after purchasing an additional 11,609 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Caesarstone during the 4th quarter worth approximately $280,000. 44.69% of the stock is owned by institutional investors and hedge funds.

About Caesarstone

Caesarstone Ltd., together with its subsidiaries, manufactures and sells engineered quartz surfaces under the Caesarstone brand in the United States, Australia, Canada, Israel, Europe, and internationally. Its engineered quartz slabs are used as countertops in residential kitchens, as well as serve the renovation and remodeling market.

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