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

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

Charles & Colvard, Ltd. Stock Performance

CTHR opened at $0.31 on Tuesday. The company has a fifty day moving average price of $0.35 and a two-hundred day moving average price of $0.39. Charles & Colvard, Ltd. has a 52 week low of $0.29 and a 52 week high of $1.21. The firm has a market capitalization of $9.41 million, a PE ratio of -0.41 and a beta of 0.91.

Charles & Colvard, Ltd. (NASDAQ:CTHR) last announced its quarterly earnings results on Tuesday, February 13th. The company reported ($0.09) earnings per share (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 during the quarter.

Insider Buying and Selling

In related news, Director Ollin B. Sykes bought 107,500 shares of Charles & Colvard, Ltd. stock in a transaction that occurred on Thursday, February 22nd. The stock was purchased at an average cost of $0.33 per share, with a total value of $35,475.00. Following the purchase, the director now owns 1,844,398 shares in the company, valued at $608,651.34. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last ninety days, insiders purchased 139,850 shares of company stock valued at $47,311. Company insiders own 20.90% of the company’s stock.

Institutional Investors Weigh In On Charles & Colvard, Ltd.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Citadel Advisors LLC raised its holdings in shares of Charles & Colvard, Ltd. by 104.3% in the 4th quarter. Citadel Advisors LLC now owns 98,054 shares of the company’s stock valued at $40,000 after purchasing an additional 50,054 shares during the period. State Street Corp grew its position 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 worth $146,000 after purchasing an additional 12,003 shares in the last quarter. Meros Investment Management LP increased its holdings in shares of 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, Punch & Associates Investment Management Inc. increased its holdings 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 during the period. 23.59% of the stock is owned by institutional investors.

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.