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Home Breaking News

Insiders Show Strong Belief in Charles Colvard Ltd

Elaine Mendonca by Elaine Mendonca
March 4, 2024
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Insiders within Charles & Colvard, Ltd. have recently been increasing their holdings, showing strong belief in the company’s potential. Director Ollin B Sykes bought 44,940 shares at an average price of $0.38, totaling approximately $17,287. President and CEO Don O’Connell also acquired 30,000 shares at an average price of $0.34, costing around $10,164. These insider trades indicate optimism for the future of Charles & Colvard, even after the company reported a quarterly loss of 9 cents per share on February 13th.

CTHR Stock Price Jumps 3.38% on March 4, 2024: Is This the Start of a Trend?

On March 4, 2024, CTHR stock experienced a positive price momentum, with shares increasing by $0.01 since the previous market close. This represents a 3.38% rise in the stock price, opening at $0.36, which was $0.01 higher than its previous close.

Investors should take note of the price movement on March 4 and consider whether this short-term increase is indicative of a larger trend or simply a temporary fluctuation. It is important to conduct thorough research and analysis before making any investment decisions regarding CTHR or any other stock.

CTHR Stock Performance Under Scrutiny: Revenue Decline and Net Loss Reported

On March 4, 2024, the stock performance of CTHR, or Charles & Colvard, was under scrutiny as the company released its financial data for the past year and the most recent quarter. According to CNN Money, CTHR reported a total revenue of $29.95 million for the past year, which was a decrease of 30.5% compared to the previous year. The total revenue for the most recent quarter was $7.91 million, showing a significant increase of 59.61% since the last quarter.

In terms of net income, CTHR reported a net loss of $19.58 million for the past year, which was a substantial decrease of 924.83% compared to the previous year. The net loss for the most recent quarter was $2.87 million, representing a decrease of 12.86% since the last quarter.

Earnings per share (EPS) for CTHR were also negatively impacted, with the company reporting an EPS of -$0.64 for the past year, a decrease of 950.4% compared to the previous year. The EPS for the most recent quarter was -$0.09, showing a decrease of 13.19% since the last quarter.

Overall, the financial data released by CTHR on March 4, 2024, painted a mixed picture of the company’s performance. Investors and analysts will be closely monitoring CTHR’s future financial reports to see if the company can turn around its negative performance and improve its bottom line.

Tags: CTHR
Elaine Mendonca

Elaine Mendonca

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