Short Interest in Brilliant Earth Group, Inc. (NASDAQ:BRLT) Decreases By 12.2%

Brilliant Earth Group, Inc. (NASDAQ:BRLT) was the target of a large decline in short interest during the month of May. As of May 31st, there was short interest totalling 121,100 shares, a decline of 12.2% from the May 15th total of 138,000 shares. Based on an average daily volume of 53,500 shares, the short-interest ratio is presently 2.3 days. Approximately 1.0% of the shares of the stock are short sold.

Insider Transactions at Brilliant Earth Group

In other news, Director Jennifer Noel Harris sold 15,176 shares of the stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $2.19, for a total value of $33,235.44. Following the completion of the sale, the director now owns 42,844 shares of the company’s stock, valued at approximately $93,828.36. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 84.70% of the company’s stock.

Hedge Funds Weigh In On Brilliant Earth Group

Several large investors have recently bought and sold shares of the stock. Virtu Financial LLC purchased a new stake in shares of Brilliant Earth Group in the 1st quarter valued at about $56,000. Federated Hermes Inc. boosted its holdings in shares of Brilliant Earth Group by 7.1% in the third quarter. Federated Hermes Inc. now owns 120,000 shares of the company’s stock valued at $354,000 after acquiring an additional 7,920 shares during the period. Finally, Avestar Capital LLC grew its position in shares of Brilliant Earth Group by 25.0% during the fourth quarter. Avestar Capital LLC now owns 25,000 shares of the company’s stock worth $93,000 after acquiring an additional 5,000 shares during the last quarter. Institutional investors and hedge funds own 70.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on BRLT. TD Cowen reduced their price target on shares of Brilliant Earth Group from $3.40 to $3.00 and set a “market perform” rating on the stock in a research note on Friday, March 15th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $4.00 target price on shares of Brilliant Earth Group in a research note on Friday, May 10th. Finally, KeyCorp decreased their price target on shares of Brilliant Earth Group from $6.00 to $3.00 and set an “overweight” rating for the company in a research report on Monday, April 29th.

Brilliant Earth Group Stock Down 7.3 %

Brilliant Earth Group stock traded down $0.18 during trading on Friday, reaching $2.27. The stock had a trading volume of 29,276 shares, compared to its average volume of 59,665. The stock has a market cap of $222.14 million, a PE ratio of 37.84 and a beta of 1.59. The business has a 50 day moving average price of $2.53 and a 200 day moving average price of $2.89. The company has a quick ratio of 2.31, a current ratio of 2.88 and a debt-to-equity ratio of 0.54. Brilliant Earth Group has a 52-week low of $2.04 and a 52-week high of $4.29.

Brilliant Earth Group (NASDAQ:BRLT) last announced its quarterly earnings results on Thursday, May 9th. The company reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.04. Brilliant Earth Group had a return on equity of 7.32% and a net margin of 0.55%. The firm had revenue of $97.34 million during the quarter, compared to the consensus estimate of $97.73 million. During the same period in the prior year, the company posted $0.01 earnings per share. On average, analysts predict that Brilliant Earth Group will post -0.01 EPS for the current year.

About Brilliant Earth Group

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