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

Investment analysts at StockNews.com began 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 Up 2.6 %

Shares of Charles & Colvard, Ltd. stock opened at $0.35 on Tuesday. The business has a fifty day simple moving average of $0.35 and a 200 day simple moving average of $0.39. The stock has a market cap of $10.55 million, a PE ratio of -0.46 and a beta of 0.91. Charles & Colvard, Ltd. has a 12 month low of $0.29 and a 12 month high of $1.17.

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

Insider Transactions at Charles & Colvard, Ltd.

In other news, Director Ollin B. Sykes purchased 107,500 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was bought at an average price of $0.33 per share, with a total value of $35,475.00. Following the acquisition, the director now directly owns 1,844,398 shares of the company’s stock, valued at $608,651.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have bought a total of 139,850 shares of company stock valued at $47,311 over the last three months. 20.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Charles & Colvard, Ltd.

Institutional investors have recently modified their holdings of the business. Meros Investment Management LP increased its holdings in Charles & Colvard, Ltd. by 14.9% during the 1st quarter. Meros Investment Management LP now owns 632,614 shares of the company’s stock worth $993,000 after purchasing an additional 82,148 shares in the last quarter. State Street Corp grew its holdings in shares of 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 in the last quarter. Punch & Associates Investment Management Inc. boosted its holdings 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 last quarter. Finally, Citadel Advisors LLC grew its position 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 in the last quarter. 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.