Charles & Colvard, Ltd. (NASDAQ:CTHR) Sees Large Decline in Short Interest

Charles & Colvard, Ltd. (NASDAQ:CTHR) was the recipient of a significant decline in short interest in March. As of March 31st, there was short interest totalling 115,700 shares, a decline of 10.8% from the March 15th total of 129,700 shares. Based on an average daily volume of 121,800 shares, the short-interest ratio is presently 0.9 days. Approximately 0.5% of the company’s stock are short sold.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on shares of Charles & Colvard, Ltd. in a research note on Tuesday. They set a “hold” rating on the stock.

Insider Buying and Selling

In related news, Director Ollin B. Sykes acquired 107,500 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were acquired at an average price of $0.33 per share, with a total value of $35,475.00. Following the completion of the transaction, the director now owns 1,844,398 shares of the company’s stock, valued at $608,651.34. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders have acquired a total of 139,850 shares of company stock valued at $47,311 in the last ninety days. Company insiders own 20.90% of the company’s stock.

Institutional Investors Weigh In On Charles & Colvard, Ltd.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Citadel Advisors LLC increased its stake in 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 purchasing an additional 50,054 shares during the last quarter. Punch & Associates Investment Management Inc. boosted its holdings in shares of Charles & Colvard, Ltd. by 10.3% in the 1st quarter. Punch & Associates Investment Management Inc. now owns 2,077,051 shares of the company’s stock valued at $1,932,000 after buying an additional 194,505 shares in the last quarter. Meros Investment Management LP grew its position in shares of Charles & Colvard, Ltd. by 51.7% in the 4th quarter. Meros Investment Management LP now owns 980,753 shares of the company’s stock valued at $807,000 after buying an additional 334,065 shares during the last quarter. Finally, State Street Corp raised its stake in 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 acquiring an additional 12,003 shares in the last quarter. Institutional investors and hedge funds own 23.59% of the company’s stock.

Charles & Colvard, Ltd. Trading Up 12.1 %

Shares of CTHR opened at $0.34 on Wednesday. The firm has a market capitalization of $10.27 million, a price-to-earnings ratio of -0.45 and a beta of 0.91. The firm’s fifty day simple moving average is $0.35 and its 200-day simple moving average is $0.39. Charles & Colvard, Ltd. has a twelve month low of $0.29 and a twelve month high of $1.21.

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

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.