Short Interest in Charles & Colvard, Ltd. (NASDAQ:CTHR) Decreases By 58.6%

Charles & Colvard, Ltd. (NASDAQ:CTHR) was the target of a significant decrease in short interest during the month of February. As of February 14th, there was short interest totalling 30,600 shares, a decrease of 58.6% from the January 30th total of 74,000 shares. Based on an average trading volume of 123,600 shares, the days-to-cover ratio is presently 0.2 days. Approximately 0.1% of the company’s shares are short sold.

A number of analysts have commented on the stock. Roth Capital reaffirmed a “buy” rating on shares of Charles & Colvard, Ltd. in a research report on Friday, February 7th. Zacks Investment Research cut shares of Charles & Colvard, Ltd. from a “hold” rating to a “sell” rating in a research report on Friday, February 7th.

A number of institutional investors and hedge funds have recently modified their holdings of CTHR. BlackRock Inc. boosted its position in Charles & Colvard, Ltd. by 321.9% during the second quarter. BlackRock Inc. now owns 73,205 shares of the company’s stock valued at $115,000 after acquiring an additional 55,852 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Charles & Colvard, Ltd. by 174.7% during the second quarter. Vanguard Group Inc. now owns 511,494 shares of the company’s stock valued at $808,000 after purchasing an additional 325,304 shares during the period. Virtu Financial LLC acquired a new position in shares of Charles & Colvard, Ltd. during the third quarter valued at about $28,000. National Investment Services of America LLC acquired a new position in shares of Charles & Colvard, Ltd. during the fourth quarter valued at about $208,000. Finally, Raymond James & Associates raised its holdings in shares of Charles & Colvard, Ltd. by 97.1% during the fourth quarter. Raymond James & Associates now owns 34,605 shares of the company’s stock valued at $49,000 after purchasing an additional 17,050 shares during the period. 34.87% of the stock is currently owned by institutional investors and hedge funds.

CTHR traded up $0.02 during trading on Friday, reaching $0.87. 92,600 shares of the stock traded hands, compared to its average volume of 216,908. The company has a quick ratio of 2.56, a current ratio of 4.10 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $24.64 million, a PE ratio of 9.67 and a beta of -0.62. The stock’s 50-day moving average is $1.27 and its 200 day moving average is $1.37. Charles & Colvard, Ltd. has a 12 month low of $0.82 and a 12 month high of $2.48.

Charles & Colvard, Ltd. (NASDAQ:CTHR) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.03 EPS for the quarter, missing the Zacks’ consensus estimate of $0.04 by ($0.01). The firm had revenue of $10.66 million for the quarter, compared to the consensus estimate of $11.70 million. Charles & Colvard, Ltd. had a net margin of 5.91% and a return on equity of 4.50%. As a group, equities research analysts anticipate that Charles & Colvard, Ltd. will post 0.06 EPS for the current year.

Charles & Colvard, Ltd. Company Profile

Charles & Colvard, Ltd. manufactures, markets, and distributes moissanite jewels and finished jewelry featuring moissanite worldwide. The company offers near-colorless moissanite jewels cut in various shapes, including round, square brilliant, princess, cushion, radiant, pear, marquise, heart, and oval in sizes ranging from approximately 1.3 to 12 millimeters.

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