Caesarstone (NASDAQ:CSTE) Earns Hold Rating from Analysts at StockNews.com

StockNews.com assumed coverage on shares of Caesarstone (NASDAQ:CSTE) in a research note released on Saturday. The brokerage issued a hold rating on the construction company’s stock.

Caesarstone Stock Down 2.2 %

CSTE stock opened at $3.97 on Friday. Caesarstone has a 52-week low of $3.76 and a 52-week high of $6.81. The stock’s fifty day simple moving average is $4.38 and its 200-day simple moving average is $4.46. The stock has a market capitalization of $137.09 million, a price-to-earnings ratio of -1.98 and a beta of 0.17.

Institutional Trading of Caesarstone

Hedge funds and other institutional investors have recently modified their holdings of the business. Two Sigma Securities LLC purchased a new stake in shares of Caesarstone during the fourth quarter worth about $46,000. Wells Fargo & Company MN increased its position in shares of Caesarstone by 27.9% during the fourth 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 during the last quarter. Jane Street Group LLC purchased a new stake in shares of Caesarstone during the third quarter worth about $55,000. Bank of America Corp DE increased its position in shares of Caesarstone by 18.0% during the fourth quarter. Bank of America Corp DE now owns 36,858 shares of the construction company’s stock worth $157,000 after acquiring an additional 5,618 shares during the last quarter. Finally, Empowered Funds LLC purchased a new stake in shares of Caesarstone during the third quarter worth about $164,000. 33.70% of the stock is owned by hedge funds and other institutional investors.

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.