Charles & Colvard, Ltd. (NASDAQ:CTHR) Coverage Initiated at StockNews.com

StockNews.com assumed coverage on shares of Charles & Colvard, Ltd. (NASDAQ:CTHR) in a research report sent to investors on Tuesday. The firm issued a hold rating on the stock.

Charles & Colvard, Ltd. Price Performance

Shares of CTHR stock opened at $0.34 on Tuesday. Charles & Colvard, Ltd. has a 1-year low of $0.29 and a 1-year high of $1.17. The stock’s fifty day moving average price is $0.35 and its 200 day moving average price is $0.39. The company has a market cap of $10.32 million, a price-to-earnings ratio of -0.45 and a beta of 0.91.

Charles & Colvard, Ltd. (NASDAQ:CTHR) last announced its earnings results on Tuesday, February 13th. The company reported ($0.09) earnings per share for the quarter. The business 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 Buying and Selling at Charles & Colvard, Ltd.

In other news, Director Ollin B. Sykes purchased 107,500 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were acquired at an average price of $0.33 per share, for a total transaction 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 filing with the SEC, which is available through the SEC website. In the last 90 days, insiders have bought 139,850 shares of company stock worth $47,311. 20.90% of the stock is currently owned by insiders.

Institutional Trading of Charles & Colvard, Ltd.

Several large investors have recently added to or reduced their stakes in CTHR. Citadel Advisors LLC grew its stake in Charles & Colvard, Ltd. by 104.3% during 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 last quarter. State Street Corp grew 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 valued at $146,000 after purchasing an additional 12,003 shares during the last quarter. Meros Investment Management LP grew its stake in Charles & Colvard, Ltd. by 51.7% during the 4th 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 stake in Charles & Colvard, Ltd. by 10.3% during 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 purchasing an additional 194,505 shares during the last quarter. Hedge funds and other institutional investors own 23.59% of the company’s stock.

About Charles & Colvard, Ltd.

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.