Short Interest in Caesarstone Ltd. (NASDAQ:CSTE) Increases By 9.8%

Caesarstone Ltd. (NASDAQ:CSTE - Get Free Report) saw a large growth in short interest in the month of December. As of December 31st, there was short interest totalling 218,000 shares, a growth of 9.8% from the December 15th total of 198,600 shares. Currently, 1.1% of the shares of the company are sold short. Based on an average trading volume of 45,600 shares, the days-to-cover ratio is presently 4.8 days.

Caesarstone Stock Performance

NASDAQ CSTE traded up $0.02 during trading hours on Friday, hitting $4.20. The company had a trading volume of 25,940 shares, compared to its average volume of 44,459. The firm has a 50 day simple moving average of $4.38 and a 200 day simple moving average of $4.67. Caesarstone has a 52 week low of $3.76 and a 52 week high of $6.81. The firm has a market capitalization of $145.03 million, a price-to-earnings ratio of -2.09 and a beta of 0.18.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. State Street Corp boosted its position in shares of Caesarstone by 1.6% during the 3rd quarter. State Street Corp now owns 163,335 shares of the construction company's stock valued at $745,000 after acquiring an additional 2,640 shares during the last quarter. Jane Street Group LLC bought a new stake in Caesarstone during the third quarter valued at approximately $55,000. Barclays PLC grew its stake in Caesarstone by 87.5% in the 3rd quarter. Barclays PLC now owns 43,445 shares of the construction company's stock worth $198,000 after buying an additional 20,271 shares in the last quarter. Rhumbline Advisers purchased a new position in Caesarstone in the 2nd quarter worth approximately $107,000. Finally, Acadian Asset Management LLC bought a new position in shares of Caesarstone in the 2nd quarter worth $106,000. 33.70% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Caesarstone from a "hold" rating to a "buy" rating in a research note on Tuesday, January 14th.

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.