StockNews.com Initiates Coverage on Charles & Colvard, Ltd. (NASDAQ:CTHR)

Stock analysts at StockNews.com initiated coverage on shares of Charles & Colvard, Ltd. (NASDAQ:CTHR) in a research note issued to investors on Tuesday. The firm set a “hold” rating on the stock.

Charles & Colvard, Ltd. Stock Performance

Shares of NASDAQ:CTHR opened at $0.35 on Tuesday. The firm has a market cap of $10.55 million, a price-to-earnings ratio of -0.46 and a beta of 0.91. The business has a 50-day simple moving average of $0.35 and a two-hundred day simple moving average of $0.39. Charles & Colvard, Ltd. has a fifty-two week low of $0.29 and a fifty-two week high of $1.17.

Charles & Colvard, Ltd. (NASDAQ:CTHR) last announced its quarterly earnings results on Tuesday, February 13th. The company reported ($0.09) EPS for the quarter. The company had revenue of $7.91 million during the quarter. Charles & Colvard, Ltd. had a negative return on equity of 57.44% and a negative net margin of 91.98%.

Insider Activity

In other news, Director Ollin B. Sykes purchased 107,500 shares of the business’s stock in a transaction on Thursday, February 22nd. The stock was acquired at an average cost of $0.33 per share, for a total transaction of $35,475.00. Following the purchase, the director now directly owns 1,844,398 shares in the company, valued at approximately $608,651.34. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have bought 139,850 shares of company stock valued at $47,311 in the last ninety days. 20.90% of the stock is currently owned by company insiders.

Institutional Trading of Charles & Colvard, Ltd.

A number of hedge funds and other institutional investors have recently bought and sold shares of CTHR. State Street Corp lifted its stake in shares of Charles & Colvard, Ltd. by 14.8% during the 1st quarter. State Street Corp now owns 93,048 shares of the company’s stock valued at $146,000 after buying an additional 12,003 shares in the last quarter. Citadel Advisors LLC lifted its position in shares of Charles & Colvard, Ltd. by 104.3% in the fourth quarter. Citadel Advisors LLC now owns 98,054 shares of the company’s stock valued at $40,000 after acquiring an additional 50,054 shares in the last quarter. Meros Investment Management LP boosted its stake in shares of Charles & Colvard, Ltd. by 14.9% in the first quarter. Meros Investment Management LP now owns 632,614 shares of the company’s stock worth $993,000 after acquiring an additional 82,148 shares during the period. Finally, Punch & Associates Investment Management Inc. grew its position in shares of Charles & Colvard, Ltd. by 10.3% during the first quarter. Punch & Associates Investment Management Inc. now owns 2,077,051 shares of the company’s stock worth $1,932,000 after purchasing an additional 194,505 shares in the last quarter. Hedge funds and other institutional investors own 23.59% of the company’s stock.

Charles & Colvard, Ltd. Company Profile

Charles & Colvard, Ltd. operates as a fine jewelry company in the United States and internationally. The company operates in two segments, Online Channels and Traditional. It manufactures, markets, and distributes moissanite jewels and finished moissanite jewelry under the Charles & Colvard Created Moissanite brand; and premium moissanite gemstones under the Forever One brand name.