Caesarstone (NASDAQ:CSTE) Stock Price Crosses Above 200-Day Moving Average – Time to Sell?

Caesarstone Ltd. (NASDAQ:CSTE)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $4.62 and traded as high as $4.62. Caesarstone shares last traded at $4.53, with a volume of 47,984 shares.

Analyst Upgrades and Downgrades

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

Caesarstone Trading Up 1.3 %

The company has a market capitalization of $156.42 million, a price-to-earnings ratio of -2.25 and a beta of 0.18. The firm’s 50 day simple moving average is $4.42 and its 200-day simple moving average is $4.62.

Institutional Investors Weigh In On Caesarstone

Hedge funds and other institutional investors have recently bought and sold shares of the business. Jane Street Group LLC acquired a new position in Caesarstone during the third quarter worth about $55,000. Empowered Funds LLC purchased a new stake in Caesarstone during the third quarter worth approximately $164,000. JPMorgan Chase & Co. raised its position in 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 during the period. Barclays PLC lifted its position in Caesarstone by 87.5% during the 3rd quarter. Barclays PLC now owns 43,445 shares of the construction company’s stock worth $198,000 after acquiring an additional 20,271 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its position in shares of Caesarstone by 1,206.4% during the third 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. Institutional investors and hedge funds own 33.70% of the company’s stock.

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.