Charles & Colvard, Ltd. (NASDAQ:CTHR) Reports Quarterly Results and Meets Expectations


Charles & Colvard, Ltd. (NASDAQ: CTHRGet a rating) released its financial results on Thursday. The company reported earnings per share of $0.01 for the quarter, meeting the consensus estimate of $0.01, MarketWatch Earnings reports. Charles & Colvard, Ltd. had a net margin of 26.42% and a return on equity of 20.88%. During the same period of the previous year, the company made earnings per share of $0.03.

Shares of NASDAQ CTHR traded at $0.01 in Friday’s midday session, reaching $1.41. 72,650 shares were traded, against an average volume of 81,454. The company has a market capitalization of $43.20 million, a P/E ratio of 4.03 and a beta of 0.39. The stock’s fifty-day simple moving average is $1.61 and its two-hundred-day simple moving average is $2.31. Charles & Colvard, Ltd. has a 12-month low of $1.35 and a 12-month high of $3.48.

Hedge funds and other institutional investors have recently been buying and selling shares of the company. Goldman Sachs Group Inc. has acquired a new stake in the shares of Charles & Colvard, Ltd. during the second quarter worth approximately $86,000. State Street Corp increased its equity stake in Charles & Colvard, Ltd. 118.2% in the fourth quarter. State Street Corp now owns 81,045 shares of the company worth $234,000 after purchasing an additional 43,900 shares in the last quarter. Millennium Management LLC has increased its equity stake in Charles & Colvard, Ltd. 230.8% in the fourth quarter. Millennium Management LLC now owns 112,010 shares of the company worth $324,000 after purchasing an additional 78,152 shares in the last quarter. BlackRock Inc. increased its equity stake in Charles & Colvard, Ltd. 60.9% in the fourth quarter. BlackRock Inc. now owns 154,522 shares of the company worth $446,000 after purchasing an additional 58,465 shares last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Charles & Colvard, Ltd. 59.0% in the third quarter. Dimensional Fund Advisors LP now owns 210,478 shares of the company worth $627,000 after purchasing an additional 78,112 shares in the last quarter. 30.33% of the shares are held by institutional investors.

Several research firms have recently published reports on CTHR. TheStreet lowered shares of Charles & Colvard, Ltd. from a “b-” grade to a “c+” grade in a research report of Thursday, April 7. Zacks Investment Research changed the shares of Charles & Colvard, Ltd. from a “sell” rating to a “hold” rating in a Monday, April 11 research report. To finish, StockNews.com began covering shares of Charles & Colvard, Ltd. in a research report Thursday. They issued a “holding” rating for the company.

Company Profile Charles & Colvard, Ltd. (Get a rating)

Charles & Colvard, Ltd. operates as a fine jewelry company in the United States and internationally. The Company manufactures, markets and distributes moissanite jewelry and finished moissanite jewelry under the Charles & Colvard Created Moissanite brand; and premium quality moissanite gemstones under the Forever One brand.

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Earnings history of Charles & Colvard, Ltd.  (NASDAQ: CTHR)



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