Brilliant Earth Group (NASDAQ:BRLT) Receives Outperform Rating from Telsey Advisory Group

Telsey Advisory Group restated their outperform rating on shares of Brilliant Earth Group (NASDAQ:BRLT) in a research note released on Friday morning, Benzinga reports. They currently have a $3.00 price target on the stock.

Separately, William Blair cut Brilliant Earth Group from an “outperform” rating to a “market perform” rating in a report on Friday, August 9th.

Brilliant Earth Group Stock Performance

Shares of BRLT stock traded up $0.14 during mid-day trading on Friday, reaching $1.69. The stock had a trading volume of 79,669 shares, compared to its average volume of 50,469. The firm has a market cap of $166.16 million, a PE ratio of 28.17 and a beta of 1.54. The company has a quick ratio of 2.33, a current ratio of 2.88 and a debt-to-equity ratio of 0.52. Brilliant Earth Group has a one year low of $1.52 and a one year high of $3.81. The firm’s 50 day simple moving average is $1.89 and its 200 day simple moving average is $2.20.

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

Institutional Trading of Brilliant Earth Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Virtu Financial LLC bought a new position in Brilliant Earth Group in the first quarter valued at approximately $56,000. Privium Fund Management UK Ltd bought a new stake in shares of Brilliant Earth Group during the 2nd quarter valued at $28,000. 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. 70.41% of the stock is currently owned by institutional investors and hedge funds.

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.