Short Interest in Charles & Colvard, Ltd. (NASDAQ:CTHR) Grows By 85.3%

Charles & Colvard, Ltd. (NASDAQ:CTHR) was the target of a significant growth in short interest in June. As of June 15th, there was short interest totalling 63,200 shares, a growth of 85.3% from the May 31st total of 34,100 shares. Approximately 2.7% of the shares of the stock are short sold. Based on an average daily trading volume, of 22,200 shares, the days-to-cover ratio is presently 2.8 days.

Charles & Colvard, Ltd. Price Performance

Shares of CTHR stock traded down $0.03 during trading hours on Friday, hitting $1.71. The stock had a trading volume of 14,873 shares, compared to its average volume of 24,365. The stock’s 50 day moving average is $2.51 and its 200 day moving average is $3.34. Charles & Colvard, Ltd. has a twelve month low of $1.53 and a twelve month high of $9.69.

Charles & Colvard, Ltd. (NASDAQ:CTHR) last announced its quarterly earnings results on Thursday, May 2nd. The company reported ($1.20) earnings per share for the quarter. The firm had revenue of $5.26 million during the quarter. Charles & Colvard, Ltd. had a negative net margin of 77.23% and a negative return on equity of 51.35%.

Analyst Upgrades and Downgrades

Separately, StockNews.com initiated coverage on shares of Charles & Colvard, Ltd. in a research report on Thursday. They issued a “hold” rating on the stock.

Charles & Colvard, Ltd. Company Profile

Charles & Colvard, Ltd. operates as a fine jewelry company in the United States and internationally. The company operates in two segments, Online Channels and Traditional. It 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.