Charles & Colvard, Ltd. (NASDAQ:CTHR) Given Average Rating of “Strong Buy” by Brokerages

Charles & Colvard, Ltd. (NASDAQ:CTHR) has received a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a strong buy rating.

Analysts have set a 1 year consensus target price of $2.50 for the company, according to Zacks. Zacks has also assigned Charles & Colvard, Ltd. an industry rank of 113 out of 256 based on the ratings given to its competitors.

Separately, Roth Capital assumed coverage on shares of Charles & Colvard, Ltd. in a research note on Wednesday, June 12th. They issued a “buy” rating and a $2.50 target price for the company.

In other Charles & Colvard, Ltd. news, Director Anne M. Butler sold 34,257 shares of the business’s stock in a transaction that occurred on Saturday, June 1st. The shares were sold at an average price of $1.00, for a total value of $34,257.00. Following the completion of the transaction, the director now owns 359,250 shares of the company’s stock, valued at approximately $359,250. The transaction was disclosed in a filing with the SEC, which is available through this link. In the last three months, insiders acquired 36,391 shares of company stock valued at $57,400. Corporate insiders own 20.20% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. raised its holdings in Charles & Colvard, Ltd. by 321.9% during the 2nd quarter. BlackRock Inc. now owns 73,205 shares of the company’s stock valued at $115,000 after buying an additional 55,852 shares during the last quarter. Vanguard Group Inc. raised its holdings in Charles & Colvard, Ltd. by 174.7% during the 2nd quarter. Vanguard Group Inc. now owns 511,494 shares of the company’s stock valued at $808,000 after buying an additional 325,304 shares during the last quarter. Renaissance Technologies LLC raised its holdings in Charles & Colvard, Ltd. by 145.6% during the 2nd quarter. Renaissance Technologies LLC now owns 595,071 shares of the company’s stock valued at $940,000 after buying an additional 352,800 shares during the last quarter. Wells Fargo & Company MN raised its holdings in Charles & Colvard, Ltd. by 164.8% during the 2nd quarter. Wells Fargo & Company MN now owns 709,015 shares of the company’s stock valued at $1,120,000 after buying an additional 441,221 shares during the last quarter. Finally, AGF Investments Inc. bought a new stake in Charles & Colvard, Ltd. during the 2nd quarter valued at $2,884,000. 14.84% of the stock is owned by institutional investors and hedge funds.

CTHR stock traded up $0.02 during mid-day trading on Thursday, hitting $1.44. The company had a trading volume of 3,192 shares, compared to its average volume of 121,055. The stock has a market cap of $42.13 million, a price-to-earnings ratio of 21.00 and a beta of -0.67. Charles & Colvard, Ltd. has a 12 month low of $0.80 and a 12 month high of $2.48. The firm’s fifty day moving average is $1.52.

Charles & Colvard, Ltd. Company Profile

Charles & Colvard, Ltd. manufactures, markets, and distributes moissanite jewels and finished jewelry featuring moissanite worldwide. The company offers near-colorless moissanite jewels cut in various shapes, including round, square brilliant, princess, cushion, radiant, pear, marquise, heart, and oval in sizes ranging from approximately 1.3 to 12 millimeters.

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