Caesarstone Ltd. (CSTE) Moves Lower on Volume Spike for September 28

Caesarstone Ltd. (CSTE) Moves Lower on Volume Spike for September 28

Caesarstone Ltd. (CSTE) traded on unusually high volume on Sep. 28, as the stock lost 1.59% to close at $18.55. On the day, Caesarstone Ltd. saw 287,554 shares trade hands on 2,440 trades. Considering that the stock averages only a daily volume of 177,184 shares a day over the last month, this represents a pretty significant bump in volume over the norm.

Generally speaking, when a stock experiences a sudden spike in trading volume, it may be seen as a bullish signal for investors. An increase in volume means more market awareness for the company, potentially setting up a more meaningful move in stock price. The added volume also provides a level of support and stability for price advances.

The stock has traded between $30.45 and $12.50 over the last 52-weeks, its 50-day SMA is now $17.93, and its 200-day SMA $18.85. Caesarstone Ltd. has a P/B ratio of 1.35. It also has a P/E ratio of 50.9.

Caesarstone Ltd manufactures engineered quartz surfaces. Its products are used in both residential and commercial buildings as counter-tops, vanities, wall cladding, floors, and other interior surfaces.

Headquartered in MP Menashe, , Caesarstone Ltd. has 1,545 employees and is currently under the leadership of CEO Raanan Zilberman.

Share:
Scroll Up
error: Content is protected !!