Charles & Colvard, Ltd. (NASDAQ:CTHR) Earns Hold Rating from Analysts at StockNews.com

Research analysts at StockNews.com began coverage on shares of Charles & Colvard, Ltd. (NASDAQ:CTHR – Get Rating) in a research report issued on Wednesday. The brokerage set a “hold” rating on the stock.

Charles & Colvard, Ltd. Trading Up 0.8 %

Shares of CTHR opened at $0.96 on Wednesday. The firm has a market cap of $29.23 million, a P/E ratio of -2.82 and a beta of 0.68. Charles & Colvard, Ltd. has a 12-month low of $0.75 and a 12-month high of $1.47. The company’s 50-day moving average price is $1.01 and its 200 day moving average price is $0.94.

Institutional Trading of Charles & Colvard, Ltd.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Punch & Associates Investment Management Inc. increased its stake in 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 during the period. George Kaiser Family Foundation purchased a new stake in Charles & Colvard, Ltd. during the first quarter worth about $443,000. Meros Investment Management LP increased its stake in Charles & Colvard, Ltd. by 51.7% during the fourth quarter. Meros Investment Management LP now owns 980,753 shares of the company’s stock worth $807,000 after purchasing an additional 334,065 shares during the period. Finally, State Street Corp increased its stake in Charles & Colvard, Ltd. by 14.8% during the first quarter. State Street Corp now owns 93,048 shares of the company’s stock worth $146,000 after purchasing an additional 12,003 shares during the period. 24.34% of the stock is currently owned by hedge funds and other institutional investors.

About Charles & Colvard, Ltd.

(Get Rating)

Charles & Colvard Ltd. engages in the manufacture and distribution of moissanite jewels and finished jewelry featuring moissanite for sale in the worldwide jewelry market. It operates through the following business segments: Online Channels and Traditional. The Online Channels segment refers to the e-commerce outlets, including charlesandcolvard.com, third-party online marketplaces, drop-ship, other pure-play, and e-commerce outlets.