Brilliant Earth Group (NASDAQ:BRLT) PT Lowered to $4.00

Brilliant Earth Group (NASDAQ:BRLT) had its target price lowered by equities researchers at Telsey Advisory Group from $7.00 to $4.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Telsey Advisory Group’s price objective would suggest a potential upside of 64.95% from the stock’s current price.

Brilliant Earth Group Trading Down 13.7 %

Brilliant Earth Group stock opened at $2.43 on Friday. The firm has a 50-day moving average of $2.92 and a 200-day moving average of $3.50. Brilliant Earth Group has a one year low of $2.10 and a one year high of $7.02. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.70 and a quick ratio of 2.17. The company has a market cap of $234.69 million, a price-to-earnings ratio of 30.32 and a beta of 1.76.

Brilliant Earth Group (NASDAQ:BRLT) last posted its quarterly earnings data on Wednesday, August 9th. The company reported $0.02 EPS for the quarter. Brilliant Earth Group had a net margin of 1.48% and a return on equity of 11.70%. The company had revenue of $110.18 million during the quarter, compared to the consensus estimate of $111.37 million. On average, equities analysts expect that Brilliant Earth Group will post 0.1 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Brilliant Earth Group

Hedge funds have recently bought and sold shares of the company. Acadian Asset Management LLC acquired a new stake in Brilliant Earth Group in the 1st quarter valued at about $38,000. UBS Group AG lifted its stake in Brilliant Earth Group by 6,047.0% in the 4th quarter. UBS Group AG now owns 6,147 shares of the company’s stock valued at $26,000 after purchasing an additional 6,047 shares during the last quarter. JPMorgan Chase & Co. acquired a new stake in Brilliant Earth Group in the 2nd quarter valued at about $27,000. Bank of America Corp DE lifted its stake in Brilliant Earth Group by 4,234.1% in the 1st quarter. Bank of America Corp DE now owns 9,145 shares of the company’s stock valued at $94,000 after purchasing an additional 8,934 shares during the last quarter. Finally, Boothbay Fund Management LLC acquired a new stake in Brilliant Earth Group in the 4th quarter valued at about $43,000. 38.71% 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. 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.