Caesarstone Ltd. (NASDAQ:CSTE) Short Interest Update

by · The Cerbat Gem

Caesarstone Ltd. (NASDAQ:CSTE – Get Free Report) was the target of a large drop in short interest during the month of December. As of December 15th, there was short interest totalling 198,600 shares, a drop of 5.1% from the November 30th total of 209,300 shares. Based on an average daily trading volume, of 42,300 shares, the short-interest ratio is presently 4.7 days. Currently, 1.0% of the company’s shares are short sold.

Analyst Ratings Changes

Separately, StockNews.com cut Caesarstone from a “buy” rating to a “hold” rating in a report on Wednesday, December 25th.

Check Out Our Latest Stock Analysis on CSTE

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. raised its stake in shares of Caesarstone by 189.5% in 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 period. Barclays PLC increased its holdings in Caesarstone by 87.5% in the 3rd quarter. Barclays PLC now owns 43,445 shares of the construction company’s stock valued at $198,000 after purchasing an additional 20,271 shares during the last quarter. Jane Street Group LLC acquired a new stake in Caesarstone in the 3rd quarter valued at approximately $55,000. State Street Corp raised its position in Caesarstone by 1.6% in the third quarter. State Street Corp now owns 163,335 shares of the construction company’s stock valued at $745,000 after purchasing an additional 2,640 shares during the period. Finally, BNP Paribas Financial Markets lifted its stake in Caesarstone by 1,206.4% during the third quarter. BNP Paribas Financial Markets now owns 46,704 shares of the construction company’s stock worth $213,000 after purchasing an additional 43,129 shares in the last quarter. Hedge funds and other institutional investors own 33.70% of the company’s stock.

Caesarstone Stock Performance

Shares of NASDAQ CSTE traded down $0.11 during mid-day trading on Wednesday, reaching $4.25. 87,055 shares of the company’s stock were exchanged, compared to its average volume of 78,842. The firm has a market capitalization of $146.76 million, a price-to-earnings ratio of -2.11 and a beta of 0.17. Caesarstone has a 52-week low of $3.76 and a 52-week high of $6.81. The company’s 50-day moving average is $4.38 and its 200-day moving average is $4.74.

Caesarstone Company Profile

(Get Free Report)

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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