Short Interest in Brilliant Earth Group, Inc. (NASDAQ:BRLT) Increases By 12.4%

Brilliant Earth Group, Inc. (NASDAQ:BRLT) saw a significant growth in short interest during the month of October. As of October 15th, there was short interest totalling 147,900 shares, a growth of 12.4% from the September 30th total of 131,600 shares. Based on an average daily trading volume, of 59,200 shares, the days-to-cover ratio is presently 2.5 days. Approximately 1.2% of the shares of the company are short sold.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $3.00 price objective on shares of Brilliant Earth Group in a report on Thursday, August 29th. 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.

Hedge Funds Weigh In On Brilliant Earth Group

Large investors have recently made changes to their positions in the business. Privium Fund Management UK Ltd acquired a new stake in Brilliant Earth Group during the second quarter valued at approximately $28,000. Virtu Financial LLC acquired a new position in Brilliant Earth Group in the first quarter worth approximately $56,000. Finally, Renaissance Technologies LLC increased its holdings in shares of Brilliant Earth Group by 9.2% in the second quarter. Renaissance Technologies LLC now owns 118,200 shares of the company’s stock valued at $262,000 after buying an additional 10,000 shares in the last quarter. Institutional investors own 70.41% of the company’s stock.

Brilliant Earth Group Price Performance

BRLT stock traded up $0.01 during trading on Wednesday, hitting $1.64. The company had a trading volume of 95,787 shares, compared to its average volume of 49,976. The business has a 50 day moving average of $1.92 and a 200 day moving average of $2.22. The firm has a market capitalization of $160.73 million, a price-to-earnings ratio of 27.17 and a beta of 1.54. The company has a current ratio of 2.88, a quick ratio of 2.33 and a debt-to-equity ratio of 0.52. Brilliant Earth Group has a fifty-two week low of $1.52 and a fifty-two week high of $3.81.

Brilliant Earth Group (NASDAQ:BRLT) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.04. The firm had revenue of $105.43 million during the quarter, compared to analyst estimates of $106.52 million. Brilliant Earth Group had a return on equity of 6.48% and a net margin of 0.57%. As a group, research analysts predict that Brilliant Earth Group will post -0.04 earnings per share 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. 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.