Brilliant Earth Group, Inc. (NASDAQ:BRLT) Sees Significant Decrease in Short Interest

Brilliant Earth Group, Inc. (NASDAQ:BRLT) saw a large decrease in short interest during the month of October. As of October 31st, there was short interest totalling 123,200 shares, a decrease of 16.7% from the October 15th total of 147,900 shares. Based on an average trading volume of 71,300 shares, the short-interest ratio is presently 1.7 days. Approximately 1.0% of the shares of the stock are sold short.

Brilliant Earth Group Stock Performance

Brilliant Earth Group stock traded down $0.03 during mid-day trading on Friday, reaching $1.71. The company had a trading volume of 54,466 shares, compared to its average volume of 51,614. The company has a quick ratio of 2.33, a current ratio of 2.80 and a debt-to-equity ratio of 0.49. The company has a 50 day moving average of $1.86 and a 200-day moving average of $2.14. Brilliant Earth Group has a 52 week low of $1.52 and a 52 week high of $3.81. The firm has a market cap of $168.12 million, a price-to-earnings ratio of 57.00 and a beta of 1.59.

Institutional Trading of Brilliant Earth Group

Several institutional investors have recently modified their holdings of BRLT. Privium Fund Management UK Ltd bought a new stake in Brilliant Earth Group during the second quarter worth about $28,000. Virtu Financial LLC acquired a new stake in Brilliant Earth Group during the 1st quarter worth $56,000. Finally, Renaissance Technologies LLC lifted its stake in shares of Brilliant Earth Group by 9.2% in the 2nd quarter. Renaissance Technologies LLC now owns 118,200 shares of the company’s stock valued at $262,000 after purchasing an additional 10,000 shares during the period. Institutional investors and hedge funds own 70.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. William Blair lowered shares of Brilliant Earth Group from an “outperform” rating to a “market perform” rating in a research note on Friday, August 9th. Telsey Advisory Group restated an “outperform” rating and issued a $3.00 target price on shares of Brilliant Earth Group in a research note on Friday, November 1st.

About Brilliant Earth Group

Brilliant Earth Group, Inc designs, procures, and sells diamonds, gemstones, and jewelry in the United States and internationally. The company’s product assortment and merchandise include a collection of diamond engagement rings, wedding and anniversary rings, gemstone rings, and fine jewelry. It sells directly to consumers through its omnichannel sales platform, including e-commerce and showrooms.