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

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

Charles & Colvard, Ltd. Price Performance

Shares of NASDAQ:CTHR opened at $0.36 on Tuesday. The stock has a market cap of $10.77 million, a P/E ratio of -0.47 and a beta of 0.91. The firm has a fifty day moving average price of $0.35 and a 200 day moving average price of $0.39. Charles & Colvard, Ltd. has a 1-year low of $0.29 and a 1-year high of $1.15.

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

Insider Transactions at Charles & Colvard, Ltd.

In other news, Director Ollin B. Sykes bought 107,500 shares of Charles & Colvard, Ltd. stock in a transaction dated Thursday, February 22nd. The stock was bought 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 of the company’s stock, valued at $608,651.34. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. In the last quarter, insiders bought 139,850 shares of company stock worth $47,311. Company insiders own 20.90% of the company’s stock.

Institutional Trading of Charles & Colvard, Ltd.

Several hedge funds have recently made changes to their positions in CTHR. Meros Investment Management LP lifted its stake 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 worth $807,000 after acquiring an additional 334,065 shares during the period. Punch & Associates Investment Management Inc. lifted its stake 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 worth $1,932,000 after acquiring an additional 194,505 shares during the period. Citadel Advisors LLC increased 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 in the last quarter. Finally, State Street Corp increased its holdings in shares of Charles & Colvard, Ltd. by 14.8% in 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 in the last quarter. Institutional investors and hedge funds 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.