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Charles & Colvard Down 2.64% To $1.21 After Earnings Beat

Friday, September 02, 2022 12:35 PM | InvestorsObserver Analysts

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Charles & Colvard Down 2.64% To $1.21 After Earnings Beat

Charles & Colvard (CTHR) said after close Thursday that it broke even in quarter four 2022.

On the revenue line, the company reported $9.3 million, beating estimates by $1.4 million.

In the same quarter a year ago, the company earned $0.03 per share on revenue of $9.7 million.

The stock is down 2.64% to $1.21 after the report.

Charles & Colvard's profit margins took a hit as earnings fell at a faster pace than revenues.

The average recommendation from Wall Street analysts was a Strong Buy which may get revised based on this new data.

InvestorsObserver gives the stock a Bearish Sentiment score at the moment based on recent trading.

Prior to the report, InvestorsObserver gave the stock an overall score of 40. Meanwhile, the average Wall Street analyst rated the stock a Strong Buy.

Charles & Colvard Ltd manufactures, markets and distributes finished jewellery which also includes moissanite gemstone and lab grown diamonds in the jewellery market. The company sells jewels through two operating segments namely Online Channels segment and Traditional segment.

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