Charles & Colvard, Ltd. (NASDAQ:CTHR) Trading Up 7.9%

Charles & Colvard, Ltd. (NASDAQ:CTHR) shares were up 7.9% during mid-day trading on Thursday . The company traded as high as $0.89 and last traded at $0.88. Approximately 257,849 shares changed hands during mid-day trading, a decline of 1% from the average daily volume of 259,347 shares. The stock had previously closed at $0.82.

Separately, Zacks Investment Research upgraded Charles & Colvard, Ltd. from a “hold” rating to a “buy” rating and set a $1.00 price objective for the company in a report on Wednesday.

The company has a market capitalization of $25.62 million, a PE ratio of -4.21 and a beta of 0.21. The firm has a fifty day moving average of $0.73 and a two-hundred day moving average of $0.71. The company has a current ratio of 3.69, a quick ratio of 2.54 and a debt-to-equity ratio of 0.02.

Charles & Colvard, Ltd. (NASDAQ:CTHR) last issued its earnings results on Thursday, September 3rd. The company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.03. Charles & Colvard, Ltd. had a negative return on equity of 1.92% and a negative net margin of 21.11%. On average, equities analysts expect that Charles & Colvard, Ltd. will post -0.13 EPS for the current fiscal year.

In other Charles & Colvard, Ltd. news, Director Ollin B. Sykes purchased 127,700 shares of the stock in a transaction on Tuesday, September 15th. The stock was acquired at an average price of $0.76 per share, with a total value of $97,052.00. Following the transaction, the director now directly owns 348,484 shares of the company’s stock, valued at approximately $264,847.84. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Don O’connell purchased 50,000 shares of the stock in a transaction on Tuesday, September 15th. The shares were acquired at an average cost of $0.78 per share, with a total value of $39,000.00. Following the transaction, the chief executive officer now directly owns 315,553 shares in the company, valued at $246,131.34. The disclosure for this purchase can be found here. Insiders have purchased a total of 204,700 shares of company stock valued at $156,302 over the last 90 days. 16.70% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Virtu Financial LLC bought a new position in shares of Charles & Colvard, Ltd. in the 2nd quarter worth approximately $50,000. People s United Financial Inc. bought a new position in shares of Charles & Colvard, Ltd. in the 1st quarter worth approximately $51,000. Finally, Johnson Investment Counsel Inc. bought a new position in shares of Charles & Colvard, Ltd. in the 2nd quarter worth approximately $132,000. 14.73% of the stock is owned by institutional investors and hedge funds.

About Charles & Colvard, Ltd. (NASDAQ:CTHR)

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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