Charles & Colvard, Ltd. (NASDAQ:CTHR) Downgraded to Sell at Zacks Investment Research

Charles & Colvard, Ltd. (NASDAQ:CTHRGet Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Tuesday, Zacks.com reports.

According to Zacks, “Charles and Colvard manufacture, market and distribute moissanite jewels for sale in the worldwide jewelry market. Moissanite, also known by its chemical name, silicon carbide, is a rare, naturally occurring mineral found primarily in meteorites. The Company is the sole manufacturer of scientifically-made moissanite jewels. Their strategy is to create a unique brand image which positions moissanite as a jewel in its own right, distinct from all other jewels based on its fire, brilliance, luster, durability and rarity. “

Several other equities research analysts also recently weighed in on CTHR. StockNews.com initiated coverage on shares of Charles & Colvard, Ltd. in a research report on Friday. They set a “hold” rating for the company. TheStreet downgraded shares of Charles & Colvard, Ltd. from a “b-” rating to a “c+” rating in a research report on Thursday, April 7th.

Shares of CTHR traded up $0.08 on Tuesday, hitting $1.47. 31,497 shares of the stock traded hands, compared to its average volume of 87,275. The company has a market capitalization of $45.11 million, a PE ratio of 4.20 and a beta of 0.39. The business has a 50 day simple moving average of $1.56 and a 200 day simple moving average of $2.23. Charles & Colvard, Ltd. has a one year low of $1.35 and a one year high of $3.48.

Charles & Colvard, Ltd. (NASDAQ:CTHRGet Rating) last announced its quarterly earnings results on Thursday, May 5th. The company reported $0.01 earnings per share for the quarter, meeting the consensus estimate of $0.01. Charles & Colvard, Ltd. had a net margin of 24.63% and a return on equity of 18.57%. During the same quarter in the prior year, the company earned $0.03 earnings per share. On average, equities research analysts forecast that Charles & Colvard, Ltd. will post 0.07 earnings per share for the current year.

Large investors have recently bought and sold shares of the business. Acadian Asset Management LLC boosted its stake in shares of Charles & Colvard, Ltd. by 14.8% during the 4th quarter. Acadian Asset Management LLC now owns 722,082 shares of the company’s stock worth $2,085,000 after acquiring an additional 93,172 shares during the last quarter. Meros Investment Management LP boosted its stake in shares of Charles & Colvard, Ltd. by 14.9% during the 1st quarter. Meros Investment Management LP now owns 632,614 shares of the company’s stock worth $993,000 after acquiring an additional 82,148 shares during the last quarter. Acuitas Investments LLC boosted its stake in shares of Charles & Colvard, Ltd. by 47.5% during the 4th quarter. Acuitas Investments LLC now owns 550,466 shares of the company’s stock worth $1,591,000 after acquiring an additional 177,353 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of Charles & Colvard, Ltd. by 33.4% during the 1st quarter. Victory Capital Management Inc. now owns 467,420 shares of the company’s stock worth $734,000 after acquiring an additional 117,072 shares during the last quarter. Finally, Essex Investment Management Co. LLC boosted its stake in shares of Charles & Colvard, Ltd. by 2.5% during the 1st quarter. Essex Investment Management Co. LLC now owns 361,443 shares of the company’s stock worth $567,000 after acquiring an additional 8,789 shares during the last quarter. 30.33% of the stock is owned by institutional investors and hedge funds.

Charles & Colvard, Ltd. Company Profile (Get Rating)

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

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