StockNews.com Initiates Coverage on Charles & Colvard, Ltd. (NASDAQ:CTHR)

Equities researchers at StockNews.com began coverage on shares of Charles & Colvard, Ltd. (NASDAQ:CTHR – Get Rating) in a research note issued to investors on Wednesday. The firm set a “hold” rating on the stock.

Charles & Colvard, Ltd. Price Performance

Shares of Charles & Colvard, Ltd. stock opened at $0.94 on Wednesday. Charles & Colvard, Ltd. has a one year low of $0.75 and a one year high of $1.47. The firm has a market capitalization of $28.66 million, a price-to-earnings ratio of -2.76 and a beta of 0.68. The business has a 50-day simple moving average of $1.01 and a 200 day simple moving average of $0.94.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State Street Corp raised its stake in Charles & Colvard, Ltd. by 14.8% in the 1st quarter. State Street Corp now owns 93,048 shares of the company’s stock valued at $146,000 after acquiring an additional 12,003 shares during the period. George Kaiser Family Foundation purchased a new position in shares of Charles & Colvard, Ltd. in the first quarter worth about $443,000. Meros Investment Management LP raised its position in shares of Charles & Colvard, Ltd. by 51.7% in the fourth quarter. Meros Investment Management LP now owns 980,753 shares of the company’s stock valued at $807,000 after purchasing an additional 334,065 shares during the period. Finally, Punch & Associates Investment Management Inc. lifted its stake in shares of Charles & Colvard, Ltd. by 10.3% during 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 buying an additional 194,505 shares in the last quarter. 24.34% of the stock is currently owned by hedge funds and other institutional investors.

About Charles & Colvard, Ltd.

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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.