Charles & Colvard, Ltd. (NASDAQ:CTHR) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $1.59 and traded as high as $3.00. Charles & Colvard, Ltd. shares last traded at $2.98, with a volume of 187,527 shares trading hands.
Separately, Zacks Investment Research cut shares of Charles & Colvard, Ltd. from a “buy” rating to a “hold” rating in a research report on Wednesday.
The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.29 and a current ratio of 5.05. The stock’s 50-day moving average is $2.65 and its 200 day moving average is $1.60. The firm has a market cap of $89.95 million, a P/E ratio of -16.84 and a beta of 0.39.
In other news, Director Ollin B. Sykes bought 25,000 shares of the stock in a transaction on Wednesday, February 24th. The stock was purchased at an average price of $2.22 per share, for a total transaction of $55,500.00. Following the acquisition, the director now owns 485,989 shares in the company, valued at $1,078,895.58. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Ollin B. Sykes bought 63,500 shares of the stock in a transaction on Tuesday, March 16th. The shares were purchased at an average price of $2.79 per share, with a total value of $177,165.00. Following the acquisition, the director now owns 506,314 shares in the company, valued at approximately $1,412,616.06. The disclosure for this purchase can be found here. 16.50% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in CTHR. Founders Capital Management bought a new position in Charles & Colvard, Ltd. during the 4th quarter worth about $25,000. Renaissance Technologies LLC increased its holdings in Charles & Colvard, Ltd. by 25.0% during the 4th quarter. Renaissance Technologies LLC now owns 2,002,468 shares of the company’s stock worth $2,463,000 after purchasing an additional 400,554 shares in the last quarter. Punch & Associates Investment Management Inc. acquired a new position in shares of Charles & Colvard, Ltd. during the 4th quarter worth about $214,000. Finally, Carroll Financial Associates Inc. boosted its stake in shares of Charles & Colvard, Ltd. by 11,816.7% during the 1st quarter. Carroll Financial Associates Inc. now owns 14,300 shares of the company’s stock worth $42,000 after buying an additional 14,180 shares during the last quarter. Hedge funds and other institutional investors own 15.09% of the company’s stock.
About Charles & Colvard, Ltd. (NASDAQ:CTHR)
Charles & Colvard, Ltd. manufactures, markets, and distributes moissanite jewels and finished jewelries worldwide. It operates through Online Channels, and Traditional segments. The company offers stud earrings, solitaire and three stone rings, pendants, and bracelets. It also provides colorless moissanite jewel with 27 cuts and in sizes ranging from .002 carats to 6.13 carats, under the brand name Forever One, as well as gemstones under the brand name Moissanite by Charles & Colvard.
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