Charles & Colvard, Ltd. (NASDAQ:CTHR) Stock Crosses Above 50-Day Moving Average of $2.73

Charles & Colvard, Ltd. (NASDAQ:CTHR)’s share price crossed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $2.73 and traded as high as $2.91. Charles & Colvard, Ltd. shares last traded at $2.88, with a volume of 259,887 shares changing hands.

Several brokerages have recently issued reports on CTHR. Zacks Investment Research lowered Charles & Colvard, Ltd. from a “hold” rating to a “sell” rating in a report on Monday, September 6th. Roth Capital lifted their price target on Charles & Colvard, Ltd. from $3.50 to $3.75 and gave the company a “buy” rating in a report on Friday, September 3rd.

The company has a fifty day moving average of $2.73 and a two-hundred day moving average of $2.80. The stock has a market capitalization of $86.15 million, a price-to-earnings ratio of 6.86 and a beta of 0.20.

Charles & Colvard, Ltd. (NASDAQ:CTHR) last posted its earnings results on Wednesday, September 1st. The company reported $0.27 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.27. Charles & Colvard, Ltd. had a return on equity of 26.91% and a net margin of 32.65%. Research analysts forecast that Charles & Colvard, Ltd. will post 0.13 EPS for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Occudo Quantitative Strategies LP acquired a new position in shares of Charles & Colvard, Ltd. during the second quarter worth approximately $51,000. Whitener Capital Management Inc. lifted its holdings in shares of Charles & Colvard, Ltd. by 92.0% during the first quarter. Whitener Capital Management Inc. now owns 19,200 shares of the company’s stock worth $56,000 after buying an additional 9,200 shares during the last quarter. State Street Corp acquired a new position in shares of Charles & Colvard, Ltd. during the second quarter worth approximately $59,000. Goldman Sachs Group Inc. acquired a new position in shares of Charles & Colvard, Ltd. during the second quarter worth approximately $86,000. Finally, Dimensional Fund Advisors LP acquired a new position in shares of Charles & Colvard, Ltd. during the first quarter worth approximately $88,000. Hedge funds and other institutional investors own 24.10% of the company’s stock.

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

Charles & Colvard Ltd. engages in the manufacture and distribution of moissanite jewels and finished jewelry featuring moissanite for sale in the worldwide jewelry market. It operates through the following business segments: Online Channels and Traditional. The Online Channels segment refers to the e-commerce outlets, including charlesandcolvard.com, third-party online marketplaces, drop-ship, other pure-play, and e-commerce outlets.

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