Short Interest in Charles & Colvard, Ltd. (NASDAQ:CTHR) Decreases By 20.2%

Charles & Colvard, Ltd. (NASDAQ:CTHR) was the target of a large decline in short interest in June. As of June 30th, there was short interest totalling 933,800 shares, a decline of 20.2% from the May 30th total of 1,170,600 shares. Approximately 5.0% of the shares of the stock are sold short. Based on an average daily volume of 336,000 shares, the days-to-cover ratio is presently 2.8 days.

NASDAQ:CTHR traded down $0.05 during mid-day trading on Friday, hitting $1.57. 114,782 shares of the stock traded hands, compared to its average volume of 173,722. The stock has a market cap of $45.00 million, a PE ratio of 23.14 and a beta of -0.60. Charles & Colvard, Ltd. has a 52 week low of $0.80 and a 52 week high of $2.48. The stock has a 50 day moving average price of $1.71.

Charles & Colvard, Ltd. (NASDAQ:CTHR) last issued its quarterly earnings results on Thursday, May 9th. The company reported $0.04 EPS for the quarter. The company had revenue of $7.90 million for the quarter. Charles & Colvard, Ltd. had a net margin of 4.56% and a return on equity of 4.06%. As a group, research analysts expect that Charles & Colvard, Ltd. will post 0.1 EPS for the current fiscal year.

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