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

Shares of Caesarstone Ltd. (NASDAQ:CSTE) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $4.86 and traded as high as $5.04. Caesarstone shares last traded at $5.00, with a volume of 64,997 shares.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Caesarstone from a “buy” rating to a “hold” rating in a research report on Monday, November 25th.

Caesarstone Stock Down 0.2 %

The business has a fifty day simple moving average of $4.35 and a two-hundred day simple moving average of $4.86. The company has a market capitalization of $172.66 million, a price-to-earnings ratio of -2.49 and a beta of 0.17.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of CSTE. Bank of New York Mellon Corp acquired a new position in shares of Caesarstone in the 2nd quarter worth approximately $293,000. Global Alpha Capital Management Ltd. boosted 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 in the last quarter. BNP Paribas Financial Markets raised its position 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 during the last quarter. Empowered Funds LLC bought a new position in Caesarstone in the 3rd quarter worth approximately $164,000. Finally, Acadian Asset Management LLC bought a new position in Caesarstone in the 2nd quarter worth approximately $106,000. 33.70% of the stock is owned by institutional investors and hedge funds.

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.