Caesarstone Ltd. (NASDAQ:CSTE) Short Interest Update

Caesarstone Ltd. (NASDAQ:CSTE - Get Free Report) saw a large growth in short interest in the month of March. As of March 15th, there was short interest totalling 247,500 shares, a growth of 22.5% from the February 28th total of 202,000 shares. Based on an average daily volume of 48,600 shares, the days-to-cover ratio is presently 5.1 days. Approximately 1.2% of the shares of the stock are sold short.

Institutional Investors Weigh In On Caesarstone

A number of institutional investors have recently made changes to their positions in the stock. Two Sigma Securities LLC purchased a new position in shares of Caesarstone during the fourth quarter worth $46,000. Wells Fargo & Company MN lifted 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 acquiring an additional 2,647 shares in the last quarter. Jane Street Group LLC purchased a new position in Caesarstone during the 3rd quarter valued at about $55,000. Bank of America Corp DE grew its position in Caesarstone by 18.0% in the 4th 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 in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Caesarstone by 189.5% during the third quarter. JPMorgan Chase & Co. now owns 40,797 shares of the construction company's stock worth $186,000 after purchasing an additional 26,705 shares during the period. 33.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on Caesarstone in a report on Tuesday, March 11th. They issued a "hold" rating on the stock.

Caesarstone Price Performance

NASDAQ CSTE traded up $0.18 during mid-day trading on Friday, hitting $2.56. The stock had a trading volume of 236,689 shares, compared to its average volume of 80,197. The firm's 50 day moving average is $3.50 and its 200 day moving average is $4.08. The stock has a market capitalization of $88.45 million, a price-to-earnings ratio of -1.27 and a beta of 0.10. Caesarstone has a twelve month low of $2.25 and a twelve month high of $6.81.

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). Caesarstone had a negative net margin of 14.56% and a negative return on equity of 9.61%. The company had revenue of $97.86 million during the quarter, compared to analysts' expectations of $99.40 million. During the same quarter last year, the company earned ($0.28) earnings per share.

About Caesarstone

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.