Caesarstone (NASDAQ:CSTE) Cut to “Hold” at StockNews.com

StockNews.com cut shares of Caesarstone (NASDAQ:CSTE) from a buy rating to a hold rating in a report published on Wednesday morning.

Caesarstone Stock Up 0.9 %

Caesarstone stock opened at $4.35 on Wednesday. The firm has a 50-day moving average price of $4.45 and a two-hundred day moving average price of $4.57. The firm has a market capitalization of $150.21 million, a price-to-earnings ratio of -2.16 and a beta of 0.17. Caesarstone has a 52-week low of $3.76 and a 52-week high of $6.81.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Jane Street Group LLC acquired a new position in Caesarstone during the 3rd quarter valued at about $55,000. Empowered Funds LLC acquired a new position in Caesarstone during the 3rd quarter valued at about $164,000. JPMorgan Chase & Co. boosted its stake in Caesarstone by 189.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 40,797 shares of the construction company’s stock valued at $186,000 after purchasing an additional 26,705 shares during the period. Barclays PLC boosted its stake in Caesarstone by 87.5% during 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 period. Finally, BNP Paribas Financial Markets lifted its stake in shares of Caesarstone by 1,206.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 46,704 shares of the construction company’s stock worth $213,000 after acquiring an additional 43,129 shares during the period. 33.70% of the stock is owned by institutional investors and hedge funds.

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.