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.
