Insider Buying: Anne M. Butler Acquires 35,800 Shares of Charles & Colvard Stock (CTHR)
Charles & Colvard (NASDAQ:CTHR) Director Anne M. Butler purchased 35,800 shares of Charles & Colvard stock on the open market in a transaction that occurred on Monday, August 11th. The stock was purchased at an average cost of $1.89 per share, for a total transaction of $67,662.00. Following the completion of the acquisition, the director now directly owns 112,581 shares of the company’s stock, valued at approximately $212,778. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.
Separately, analysts at Craig Hallum initiated coverage on shares of Charles & Colvard in a research note on Wednesday, May 14th. They set a “buy” rating and a $4.00 price target on the stock.
Shares of Charles & Colvard (NASDAQ:CTHR) traded up 2.09% during mid-day trading on Tuesday, hitting $1.95. 64,025 shares of the company’s stock traded hands. Charles & Colvard has a 1-year low of $1.70 and a 1-year high of $8.34. The stock has a 50-day moving average of $2.08 and a 200-day moving average of $2.83. The company’s market cap is $39.7 million.
Charles & Colvard (NASDAQ:CTHR) last posted its quarterly earnings results on Thursday, July 31st. The company reported ($0.31) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.01) by $0.30. The company had revenue of $7.80 million for the quarter, compared to the consensus estimate of $7.47 million. Analysts expect that Charles & Colvard will post $-0.41 EPS for the current fiscal year.
Charles & Colvard, Ltd. (NASDAQ:CTHR) manufactures, markets, and distributes Charles & Colvard Created Moissanite jewels (which the Company refer to as moissanite or moissanite jewels) and finished jewelry featuring moissanite for sale in the worldwide jewelry market.
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