Charles & Colvard, Ltd. (NASDAQ:CTHR) Short Interest Down 10.8% in March

Charles & Colvard, Ltd. (NASDAQ:CTHR) was the target of a significant decrease in short interest during the month of March. As of March 31st, there was short interest totalling 115,700 shares, a decrease of 10.8% from the March 15th total of 129,700 shares. Based on an average daily volume of 121,800 shares, the short-interest ratio is currently 0.9 days. Approximately 0.5% of the shares of the company are short sold.

Charles & Colvard, Ltd. Stock Performance

NASDAQ:CTHR opened at $0.30 on Monday. The business’s fifty day moving average is $0.35 and its 200 day moving average is $0.40. The firm has a market cap of $9.10 million, a price-to-earnings ratio of -0.40 and a beta of 0.91. Charles & Colvard, Ltd. has a 52-week low of $0.29 and a 52-week high of $1.22.

Charles & Colvard, Ltd. (NASDAQ:CTHR) last announced its quarterly earnings results on Tuesday, February 13th. The company reported ($0.09) earnings per share for the quarter. Charles & Colvard, Ltd. had a negative net margin of 91.98% and a negative return on equity of 57.44%. The company had revenue of $7.91 million for the quarter.

Insider Activity at Charles & Colvard, Ltd.

In other news, Director Ollin B. Sykes purchased 107,500 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were purchased at an average price of $0.33 per share, with a total value of $35,475.00. Following the transaction, 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 document filed with the SEC, which is available through the SEC website. Over the last quarter, insiders have bought 139,850 shares of company stock worth $47,311. Insiders own 20.90% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CTHR. Citadel Advisors LLC raised its position in shares of Charles & Colvard, Ltd. by 104.3% in the fourth quarter. Citadel Advisors LLC now owns 98,054 shares of the company’s stock worth $40,000 after buying an additional 50,054 shares in the last quarter. Punch & Associates Investment Management Inc. raised 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 in the last quarter. Meros Investment Management LP boosted its position in shares of Charles & Colvard, Ltd. by 51.7% during the 4th quarter. Meros Investment Management LP now owns 980,753 shares of the company’s stock valued at $807,000 after acquiring an additional 334,065 shares during the last quarter. Finally, State Street Corp grew its holdings in shares of Charles & Colvard, Ltd. by 14.8% during the first quarter. State Street Corp now owns 93,048 shares of the company’s stock worth $146,000 after purchasing an additional 12,003 shares in the last quarter. 23.59% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com began coverage on shares of Charles & Colvard, Ltd. in a research note on Monday, April 8th. They issued a “hold” rating for the company.

Charles & Colvard, Ltd. Company Profile

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.