Brilliant Earth Group (NASDAQ:BRLT) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research cut shares of Brilliant Earth Group (NASDAQ:BRLT – Get Rating) from a hold rating to a sell rating in a report released on Tuesday, Zacks.com reports.

According to Zacks, “Brilliant Earth Group Inc. is a digital-first jewelry company. Brilliant Earth Group Inc. is headquartered in San Francisco, CA. “

Other equities analysts have also recently issued research reports about the stock. Cowen lowered their price objective on shares of Brilliant Earth Group from $21.00 to $10.00 in a research report on Friday, May 13th. Piper Sandler raised their price target on shares of Brilliant Earth Group from $20.00 to $21.00 in a research report on Friday, January 21st. Cowen decreased their price target on shares of Brilliant Earth Group from $21.00 to $10.00 in a research report on Friday, May 13th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Brilliant Earth Group from $20.00 to $10.00 in a research report on Monday. One equities research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of Buy and a consensus target price of $16.33.

NASDAQ:BRLT opened at $3.97 on Tuesday. The company has a quick ratio of 1.95, a current ratio of 2.22 and a debt-to-equity ratio of 0.40. The company has a 50 day moving average price of $8.44 and a 200 day moving average price of $12.09. Brilliant Earth Group has a fifty-two week low of $3.91 and a fifty-two week high of $20.39.

Brilliant Earth Group (NASDAQ:BRLT – Get Rating) last posted its quarterly earnings data on Thursday, May 12th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.02. On average, sell-side analysts anticipate that Brilliant Earth Group will post 0.28 earnings per share for the current year.

In other news, CFO Jeffrey Chuenhong Kuo sold 56,255 shares of Brilliant Earth Group stock in a transaction on Tuesday, February 22nd. The shares were sold at an average price of $10.22, for a total transaction of $574,926.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders have sold 141,969 shares of company stock valued at $1,369,226.

Several institutional investors have recently added to or reduced their stakes in the company. Westside Investment Management Inc. purchased a new stake in shares of Brilliant Earth Group during the 4th quarter worth $53,000. Acadian Asset Management LLC acquired a new stake in Brilliant Earth Group during the 1st quarter worth $38,000. BlackRock Inc. raised its stake in Brilliant Earth Group by 3.8% during the 1st quarter. BlackRock Inc. now owns 105,913 shares of the company’s stock worth $1,090,000 after acquiring an additional 3,883 shares in the last quarter. Burleson & Company LLC acquired a new stake in Brilliant Earth Group during the 4th quarter worth $108,000. Finally, Wells Fargo & Company MN acquired a new stake in Brilliant Earth Group during the 4th quarter worth $149,000. 8.90% of the stock is owned by institutional investors and hedge funds.

Brilliant Earth Group Company Profile (Get Rating)

Brilliant Earth Group, Inc engages in the design, procurement, and retail sale of 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.

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