Caesarstone Ltd. (NASDAQ:CSTE) Short Interest Update

Caesarstone Ltd. (NASDAQ:CSTE) saw a significant decrease in short interest in the month of December. As of December 15th, there was short interest totalling 198,600 shares, a decrease of 5.1% from the November 30th total of 209,300 shares. Based on an average trading volume of 42,300 shares, the short-interest ratio is currently 4.7 days. Currently, 1.0% of the shares of the stock are short sold.

Caesarstone Price Performance

NASDAQ CSTE traded down $0.11 during mid-day trading on Wednesday, hitting $4.25. The stock had a trading volume of 87,055 shares, compared to its average volume of 78,842. The firm’s 50 day moving average is $4.38 and its 200 day moving average is $4.74. The stock has a market capitalization of $146.76 million, a price-to-earnings ratio of -2.11 and a beta of 0.17. Caesarstone has a twelve month low of $3.76 and a twelve month high of $6.81.

Institutional Investors Weigh In On Caesarstone

Hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. grew its position in shares of Caesarstone by 189.5% in the third 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 in the last quarter. Barclays PLC boosted its stake in Caesarstone by 87.5% during the third quarter. Barclays PLC now owns 43,445 shares of the construction company’s stock worth $198,000 after buying an additional 20,271 shares during the last quarter. Jane Street Group LLC purchased a new stake in Caesarstone in the 3rd quarter valued at $55,000. State Street Corp increased its stake in shares of Caesarstone by 1.6% in the 3rd quarter. State Street Corp now owns 163,335 shares of the construction company’s stock worth $745,000 after acquiring an additional 2,640 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in shares of Caesarstone by 1,206.4% during 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 currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of Caesarstone from a “buy” rating to a “hold” rating in a research note on Wednesday, December 25th.

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.