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

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

Charles & Colvard, Ltd. Stock Performance

Shares of Charles & Colvard, Ltd. stock opened at $0.36 on Tuesday. The company has a market capitalization of $10.77 million, a P/E ratio of -0.47 and a beta of 0.91. The company has a fifty day moving average of $0.35 and a 200 day moving average of $0.39. Charles & Colvard, Ltd. has a fifty-two week low of $0.29 and a fifty-two week high of $1.15.

Charles & Colvard, Ltd. (NASDAQ:CTHR) last issued its earnings results on Tuesday, February 13th. The company reported ($0.09) earnings per share for the quarter. The firm had revenue of $7.91 million during 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 related news, Director Ollin B. Sykes acquired 107,500 shares of the company’s stock in a transaction on Thursday, February 22nd. The stock was acquired 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 purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders purchased 139,850 shares of company stock valued at $47,311 in the last 90 days. Insiders own 20.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Punch & Associates Investment Management Inc. lifted 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 acquiring an additional 194,505 shares during the last quarter. Meros Investment Management LP lifted its holdings in shares of Charles & Colvard, Ltd. by 14.9% in the 1st quarter. Meros Investment Management LP now owns 632,614 shares of the company’s stock valued at $993,000 after acquiring an additional 82,148 shares during the last quarter. State Street Corp lifted 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 acquiring an additional 12,003 shares during the last quarter. Finally, Citadel Advisors LLC lifted 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 acquiring an additional 50,054 shares during the last quarter. 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.