Charles & Colvard, Ltd. (NASDAQ:CTHR) Short Interest Update

Charles & Colvard, Ltd. (NASDAQ:CTHR) was the recipient of a large increase in short interest during the month of October. As of October 31st, there was short interest totalling 226,700 shares, an increase of 7.8% from the September 30th total of 210,300 shares. Approximately 0.9% of the company’s shares are short sold. Based on an average daily trading volume, of 98,500 shares, the short-interest ratio is currently 2.3 days.

Several institutional investors and hedge funds have recently modified their holdings of CTHR. AGF Investments Inc. acquired a new position in shares of Charles & Colvard, Ltd. in the 2nd quarter worth approximately $2,884,000. Wells Fargo & Company MN grew its position in shares of Charles & Colvard, Ltd. by 164.8% in the 2nd quarter. Wells Fargo & Company MN now owns 709,015 shares of the company’s stock worth $1,120,000 after acquiring an additional 441,221 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of Charles & Colvard, Ltd. by 145.6% in the 2nd quarter. Renaissance Technologies LLC now owns 595,071 shares of the company’s stock worth $940,000 after acquiring an additional 352,800 shares in the last quarter. BlackRock Inc. grew its position in shares of Charles & Colvard, Ltd. by 321.9% in the 2nd quarter. BlackRock Inc. now owns 73,205 shares of the company’s stock worth $115,000 after acquiring an additional 55,852 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Charles & Colvard, Ltd. by 174.7% in the 2nd quarter. Vanguard Group Inc. now owns 511,494 shares of the company’s stock worth $808,000 after acquiring an additional 325,304 shares in the last quarter. Institutional investors own 27.35% of the company’s stock.

Shares of NASDAQ:CTHR opened at $1.43 on Friday. The company has a current ratio of 4.56, a quick ratio of 3.40 and a debt-to-equity ratio of 0.01. Charles & Colvard, Ltd. has a 12-month low of $0.80 and a 12-month high of $2.48. The stock’s 50-day moving average price is $1.41 and its two-hundred day moving average price is $1.51. The firm has a market cap of $43.76 million, a price-to-earnings ratio of 14.30 and a beta of -0.75.

Charles & Colvard, Ltd. (NASDAQ:CTHR) last issued its earnings results on Thursday, November 7th. The company reported $0.01 EPS for the quarter. The company had revenue of $7.61 million during the quarter, compared to analyst estimates of $7.19 million. Charles & Colvard, Ltd. had a return on equity of 5.77% and a net margin of 7.14%. As a group, research analysts forecast that Charles & Colvard, Ltd. will post 0.11 earnings per share for the current fiscal year.

Separately, Zacks Investment Research raised Charles & Colvard, Ltd. from a “hold” rating to a “buy” rating and set a $1.50 price target on the stock in a research note on Thursday, October 31st.

About Charles & Colvard, Ltd.

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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