Caesarstone Ltd. (NASDAQ:CSTE) Short Interest Update

Caesarstone Ltd. (NASDAQ:CSTE) saw a significant increase in short interest in the month of July. As of July 31st, there was short interest totalling 362,700 shares, an increase of 11.9% from the July 15th total of 324,000 shares. Based on an average trading volume of 137,100 shares, the days-to-cover ratio is currently 2.6 days. Currently, 1.8% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Benchmark reduced their target price on shares of Caesarstone from $8.00 to $6.00 and set a “buy” rating for the company in a report on Thursday, August 8th. StockNews.com downgraded Caesarstone from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th.

Caesarstone Price Performance

Shares of CSTE traded up $0.05 during trading hours on Monday, reaching $4.42. 8,876 shares of the stock traded hands, compared to its average volume of 99,480. The company’s 50-day moving average price is $5.31 and its two-hundred day moving average price is $5.11. Caesarstone has a 52-week low of $3.50 and a 52-week high of $6.81. The company has a market cap of $152.63 million, a P/E ratio of -1.38 and a beta of 0.13. The company has a current ratio of 2.79, a quick ratio of 1.68 and a debt-to-equity ratio of 0.01.

Institutional Trading of Caesarstone

Institutional investors and hedge funds have recently bought and sold shares of the stock. Acadian Asset Management LLC purchased a new position in shares of Caesarstone during the second quarter valued at about $106,000. Rhumbline Advisers bought a new stake in Caesarstone in the 2nd quarter worth approximately $107,000. Bank of New York Mellon Corp purchased a new stake in shares of Caesarstone during the 2nd quarter worth approximately $293,000. Gladius Capital Management LP purchased a new stake in shares of Caesarstone during the 2nd quarter worth approximately $28,000. Finally, Marquette Asset Management LLC boosted its position in shares of Caesarstone by 19.8% during the 1st quarter. Marquette Asset Management LLC now owns 36,291 shares of the construction company’s stock valued at $148,000 after acquiring an additional 6,006 shares during the last quarter. 33.70% of the stock is currently owned by 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.