Zacks Investment Research Downgrades Brilliant Earth Group (NASDAQ:BRLT) to Sell

Brilliant Earth Group (NASDAQ:BRLTGet Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Monday, 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. “

BRLT has been the subject of a number of other reports. Cowen lowered their target price on Brilliant Earth Group from $21.00 to $10.00 in a research report on Friday, May 13th. 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. Finally, JPMorgan Chase & Co. reduced their target price on shares of Brilliant Earth Group from $20.00 to $10.00 in a report on Monday, May 16th. One equities research analyst has rated the stock with a sell rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $16.33.

BRLT stock traded up $0.08 during midday trading on Monday, reaching $4.03. 397,260 shares of the company’s stock traded hands, compared to its average volume of 318,767. The company has a quick ratio of 1.95, a current ratio of 1.92 and a debt-to-equity ratio of 0.28. Brilliant Earth Group has a 52-week low of $3.60 and a 52-week high of $20.39. The stock’s 50-day moving average is $8.21 and its 200 day moving average is $11.91.

Brilliant Earth Group (NASDAQ:BRLTGet Rating) last posted its quarterly earnings data on Thursday, May 12th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.03 by $0.02. On average, research analysts expect that Brilliant Earth Group will post 0.24 earnings per share for the current year.

In related news, CFO Jeffrey Chuenhong Kuo sold 19,185 shares of the firm’s stock in a transaction that occurred on Monday, April 4th. The stock was sold at an average price of $9.48, for a total transaction of $181,873.80. Following the completion of the sale, the chief financial officer now directly owns 541,672 shares of the company’s stock, valued at approximately $5,135,050.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last three months, insiders sold 141,969 shares of company stock valued at $1,369,226.

Large investors have recently modified their holdings of the company. Westside Investment Management Inc. bought a new stake in shares of Brilliant Earth Group in the fourth quarter valued at about $53,000. Acadian Asset Management LLC bought a new position in Brilliant Earth Group in the first quarter worth approximately $38,000. Burleson & Company LLC purchased a new stake in Brilliant Earth Group during the fourth quarter worth $108,000. Wells Fargo & Company MN bought a new stake in Brilliant Earth Group during the 4th quarter valued at $149,000. Finally, Voloridge Investment Management LLC purchased a new position in shares of Brilliant Earth Group in the 3rd quarter valued at $134,000. 8.90% of the stock is currently owned by institutional investors and hedge funds.

About Brilliant Earth Group (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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