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

Posted by on Jun 25th, 2023

StockNews.com began coverage on shares of Charles & Colvard, Ltd. (NASDAQ:CTHR – Get Rating) in a research report issued to clients and investors on Sunday. The firm set a “hold” rating on the stock.

Charles & Colvard, Ltd. Stock Down 3.0 %

Shares of CTHR stock opened at $0.88 on Friday. Charles & Colvard, Ltd. has a 12 month low of $0.75 and a 12 month high of $1.38. The business’s 50 day moving average is $0.97 and its two-hundred day moving average is $0.94. The company has a market cap of $26.96 million, a PE ratio of -2.60 and a beta of 0.70.

Charles & Colvard, Ltd. (NASDAQ:CTHR – Get Rating) last posted its quarterly earnings results on Thursday, May 4th. The company reported ($0.28) earnings per share for the quarter. The business had revenue of $6.64 million for the quarter. Charles & Colvard, Ltd. had a negative return on equity of 18.35% and a negative net margin of 30.54%.

Hedge Funds Weigh In On Charles & Colvard, Ltd.

Several institutional investors and hedge funds have recently modified their holdings of CTHR. Punch & Associates Investment Management Inc. grew its holdings in 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. George Kaiser Family Foundation acquired a new stake in shares of Charles & Colvard, Ltd. during the first quarter valued at about $443,000. Meros Investment Management LP lifted its stake in shares of Charles & Colvard, Ltd. by 51.7% in the fourth 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. Finally, State Street Corp lifted its stake in shares of Charles & Colvard, Ltd. by 14.8% in the first quarter. State Street Corp now owns 93,048 shares of the company’s stock worth $146,000 after acquiring an additional 12,003 shares during the period. 27.29% of the stock is currently owned by institutional investors and hedge funds.

Charles & Colvard, Ltd. Company Profile

(Get Rating)

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.

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