Caesarstone Ltd. (NASDAQ:CSTE) Short Interest Update

Caesarstone Ltd. (NASDAQ:CSTE) was the recipient of a large increase in short interest in the month of January. As of January 15th, there was short interest totalling 218,000 shares, an increase of 9.8% from the December 31st total of 198,600 shares. Approximately 1.1% of the shares of the stock are short sold. Based on an average daily volume of 45,600 shares, the short-interest ratio is presently 4.8 days.

Caesarstone Price Performance

Shares of NASDAQ CSTE opened at $4.31 on Tuesday. Caesarstone has a 1 year low of $3.76 and a 1 year high of $6.81. The company’s 50-day moving average is $4.44 and its 200 day moving average is $4.59. The stock has a market capitalization of $148.82 million, a P/E ratio of -2.14 and a beta of 0.17.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Caesarstone from a “hold” rating to a “buy” rating in a research note on Tuesday, January 14th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CSTE. Global Alpha Capital Management Ltd. lifted its holdings in shares of Caesarstone by 1.6% in the 3rd quarter. Global Alpha Capital Management Ltd. now owns 3,019,248 shares of the construction company’s stock worth $13,768,000 after acquiring an additional 48,200 shares during the last quarter. State Street Corp grew its position 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 buying an additional 2,640 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in 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 purchasing an additional 43,129 shares in the last quarter. Barclays PLC lifted 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 acquiring an additional 20,271 shares during the period. Finally, JPMorgan Chase & Co. lifted 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 acquiring an additional 26,705 shares during the period. Institutional investors own 33.70% of the company’s stock.

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.