TheStreet Lowers Charles & Colvard, Ltd. (NASDAQ:CTHR) to D

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TheStreet cut shares of Charles & Colvard, Ltd. (NASDAQ:CTHR) from a c- rating to a d rating in a research report sent to investors on Thursday morning, TheStreetRatingsTable reports.

A number of other research firms have also recently weighed in on CTHR. Zacks Investment Research cut Charles & Colvard, Ltd. from a hold rating to a sell rating in a research note on Thursday, March 26th. Roth Capital reissued a buy rating on shares of Charles & Colvard, Ltd. in a research report on Friday, February 7th.

Shares of Charles & Colvard, Ltd. stock opened at $0.69 on Thursday. The company has a quick ratio of 2.56, a current ratio of 4.10 and a debt-to-equity ratio of 0.01. Charles & Colvard, Ltd. has a 52-week low of $0.60 and a 52-week high of $2.48. The company has a market capitalization of $24.37 million, a P/E ratio of -4.31 and a beta of 0.35. The company has a 50 day moving average of $0.70 and a 200 day moving average of $1.09.

Charles & Colvard, Ltd. (NASDAQ:CTHR) last announced its quarterly earnings data on Thursday, May 21st. The company reported ($0.03) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.02) by ($0.01). The firm had revenue of $6.49 million during the quarter, compared to analyst estimates of $6.00 million. Charles & Colvard, Ltd. had a negative net margin of 15.36% and a positive return on equity of 0.70%. As a group, research analysts anticipate that Charles & Colvard, Ltd. will post -0.05 earnings per share for the current fiscal year.

Several institutional investors have recently modified their holdings of the company. People s United Financial Inc. acquired a new position in shares of Charles & Colvard, Ltd. in the 1st quarter valued at $51,000. MERIAN GLOBAL INVESTORS UK Ltd lifted its position in Charles & Colvard, Ltd. by 3,676.4% in the first quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 209,173 shares of the company’s stock valued at $7,032,000 after acquiring an additional 203,634 shares during the last quarter. Manatuck Hill Partners LLC boosted its stake in Charles & Colvard, Ltd. by 12.8% in the fourth quarter. Manatuck Hill Partners LLC now owns 451,100 shares of the company’s stock valued at $641,000 after acquiring an additional 51,100 shares in the last quarter. Raymond James & Associates grew its holdings in shares of Charles & Colvard, Ltd. by 97.1% during the fourth quarter. Raymond James & Associates now owns 34,605 shares of the company’s stock worth $49,000 after purchasing an additional 17,050 shares during the last quarter. Finally, National Investment Services of America LLC purchased a new position in shares of Charles & Colvard, Ltd. during the fourth quarter worth about $208,000. Institutional investors and hedge funds own 29.33% of the company’s stock.

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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