Zacks: Analysts Set $2.50 Price Target for Charles & Colvard, Ltd. (NASDAQ:CTHR)

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Charles & Colvard, Ltd. (NASDAQ:CTHR) has been given a consensus broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong buy recommendation.

Brokerages have set a one year consensus price objective of $2.50 for the company, according to Zacks. Zacks has also given Charles & Colvard, Ltd. an industry rank of 113 out of 256 based on the ratings given to related companies.

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

In other news, Director Anne M. Butler sold 34,257 shares of Charles & Colvard, Ltd. stock in a transaction on Saturday, June 1st. The stock was sold at an average price of $1.00, for a total value of $34,257.00. Following the completion of the sale, the director now owns 359,250 shares of the company’s stock, valued at $359,250. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In the last ninety days, insiders bought 36,391 shares of company stock valued at $57,400. Company insiders own 20.20% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the business. AGF Investments Inc. bought a new position in shares of Charles & Colvard, Ltd. in the second quarter valued at $2,884,000. Wells Fargo & Company MN lifted its stake in shares of Charles & Colvard, Ltd. by 164.8% in the second 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 in the last quarter. Renaissance Technologies LLC lifted its stake in shares of Charles & Colvard, Ltd. by 145.6% in the second 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 in the last quarter. BlackRock Inc. lifted its stake in shares of Charles & Colvard, Ltd. by 321.9% in the second quarter. BlackRock Inc. now owns 73,205 shares of the company’s stock valued at $115,000 after buying an additional 55,852 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of Charles & Colvard, Ltd. by 174.7% in the second 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 in the last quarter. 14.84% of the stock is owned by hedge funds and other institutional investors.

CTHR traded up $0.02 during mid-day trading on Thursday, hitting $1.44. 3,192 shares of the stock were exchanged, compared to its average volume of 121,055. The company has a market cap of $42.13 million, a P/E ratio of 21.00 and a beta of -0.67. The firm’s fifty day moving average price is $1.52. Charles & Colvard, Ltd. has a 1-year low of $0.80 and a 1-year high of $2.48.

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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