Caesarstone (NASDAQ:CSTE) Cut to “Hold” at StockNews.com

Caesarstone (NASDAQ:CSTE) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Wednesday.

Caesarstone Trading Down 2.8 %

NASDAQ CSTE traded down $0.13 during trading hours on Wednesday, reaching $4.47. 20,628 shares of the company traded hands, compared to its average volume of 31,584. The stock has a market capitalization of $154.35 million, a PE ratio of -2.22 and a beta of 0.17. Caesarstone has a 12 month low of $3.76 and a 12 month high of $6.81. The company has a 50 day moving average of $4.45 and a two-hundred day moving average of $4.58.

Institutional Trading of Caesarstone

Several hedge funds and other institutional investors have recently bought and sold shares of CSTE. Jane Street Group LLC acquired a new position in shares of Caesarstone in the 3rd quarter worth approximately $55,000. Empowered Funds LLC bought a new position in Caesarstone during the third quarter worth $164,000. JPMorgan Chase & Co. boosted its holdings in Caesarstone by 189.5% in the third quarter. JPMorgan Chase & Co. now owns 40,797 shares of the construction company’s stock worth $186,000 after purchasing an additional 26,705 shares during the period. Barclays PLC increased its stake in Caesarstone by 87.5% during the third quarter. Barclays PLC now owns 43,445 shares of the construction company’s stock valued at $198,000 after purchasing an additional 20,271 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its holdings 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 during the period. 33.70% of the stock is 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.