Caesarstone Ltd. (NASDAQ:CSTE) Short Interest Update

Caesarstone Ltd. (NASDAQ:CSTE - Get Free Report) was the recipient of a large increase in short interest during the month of 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. Approximately 1.2% of the company's shares are sold short. Based on an average daily volume of 48,600 shares, the days-to-cover ratio is presently 5.1 days.

Caesarstone Stock Performance

Shares of NASDAQ:CSTE traded down $0.08 during midday trading on Thursday, reaching $2.38. The company's stock had a trading volume of 121,768 shares, compared to its average volume of 79,836. Caesarstone has a fifty-two week low of $2.27 and a fifty-two week high of $6.81. The firm has a 50 day moving average price of $3.57 and a two-hundred day moving average price of $4.11. The firm has a market capitalization of $82.23 million, a price-to-earnings ratio of -1.18 and a beta of 0.10.

Caesarstone (NASDAQ:CSTE - Get Free Report) last posted its quarterly earnings results on Wednesday, March 5th. The construction company reported ($0.35) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.23) by ($0.12). The business had revenue of $97.86 million for the quarter, compared to the consensus estimate 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 quarter in the previous year, the company posted ($0.28) earnings per share.

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Analyst Ratings Changes

Separately, StockNews.com began coverage on shares of Caesarstone in a research note on Tuesday, March 11th. They issued a "hold" rating on the stock.

Institutional Investors Weigh In On Caesarstone

Large investors have recently bought and sold shares of the stock. Two Sigma Securities LLC bought a new position in shares of Caesarstone during the 4th quarter worth about $46,000. Wells Fargo & Company MN raised its stake in Caesarstone by 27.9% during the 4th quarter. Wells Fargo & Company MN now owns 12,148 shares of the construction company's stock worth $52,000 after buying an additional 2,647 shares during the period. Jane Street Group LLC bought a new position in Caesarstone in the third quarter worth approximately $55,000. Bank of America Corp DE grew its stake in Caesarstone by 18.0% in the fourth quarter. Bank of America Corp DE now owns 36,858 shares of the construction company's stock valued at $157,000 after acquiring an additional 5,618 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in shares of Caesarstone by 189.5% during the third 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 in the last quarter. 33.70% of the stock is currently owned by institutional investors and hedge funds.

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.