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

StockNews.com began coverage on shares of Charles & Colvard, Ltd. (NASDAQ:CTHRFree Report) in a research note issued to investors on Sunday morning. The firm issued a hold rating on the stock.

Charles & Colvard, Ltd. Stock Up 0.3 %

Shares of NASDAQ:CTHR opened at $0.34 on Friday. The business’s 50 day moving average is $0.38 and its 200 day moving average is $0.43. The stock has a market cap of $10.35 million, a P/E ratio of -0.45 and a beta of 0.92. Charles & Colvard, Ltd. has a 52-week low of $0.29 and a 52-week high of $1.26.

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

Insider Activity

In related news, Director Ollin B. Sykes bought 107,500 shares of the company’s stock in a transaction on Thursday, February 22nd. The stock was bought at an average cost of $0.33 per share, for a total transaction of $35,475.00. Following the acquisition, the director now directly owns 1,844,398 shares in the company, valued at $608,651.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have acquired 139,850 shares of company stock worth $47,311 in the last quarter. Corporate insiders own 20.90% of the company’s stock.

Hedge Funds Weigh In On Charles & Colvard, Ltd.

Several hedge funds have recently added to or reduced their stakes in CTHR. Citadel Advisors LLC raised its holdings 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 buying an additional 50,054 shares during the last quarter. State Street Corp grew its position 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 buying an additional 12,003 shares during the period. Meros Investment Management LP grew its holdings in Charles & Colvard, Ltd. by 51.7% in the fourth quarter. Meros Investment Management LP now owns 980,753 shares of the company’s stock valued at $807,000 after purchasing an additional 334,065 shares during the last quarter. Finally, Punch & Associates Investment Management Inc. grew its position in shares of Charles & Colvard, Ltd. by 10.3% in the first quarter. Punch & Associates Investment Management Inc. now owns 2,077,051 shares of the company’s stock valued at $1,932,000 after purchasing an additional 194,505 shares during the last quarter. 23.59% of the stock is currently owned by hedge funds and other institutional investors.

Charles & Colvard, Ltd. Company Profile

(Get Free Report)

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.

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