Caesarstone (NASDAQ:CSTE) Stock Price Passes Above Two Hundred Day Moving Average – Here’s Why

Caesarstone Ltd. (NASDAQ:CSTEGet Free Report)’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 changing hands.

Analysts Set New Price Targets

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

Read Our Latest Research Report on CSTE

Caesarstone Stock Up 1.3 %

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

Institutional Investors Weigh In On Caesarstone

Institutional investors have recently made changes to their positions in the company. Global Alpha Capital Management Ltd. lifted its stake 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 valued at $13,768,000 after purchasing an additional 48,200 shares during the last quarter. State Street Corp grew its stake in shares of Caesarstone by 1.6% in the third 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. BNP Paribas Financial Markets increased 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 purchasing an additional 43,129 shares during the period. Barclays PLC raised its holdings in Caesarstone by 87.5% in 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 in the last quarter. Finally, JPMorgan Chase & Co. raised its stake 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. 33.70% of the stock is currently owned by institutional investors and hedge funds.

Caesarstone Company Profile

(Get Free Report)

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.

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