Brilliant Earth Group, Inc. (NASDAQ:BRLT) Short Interest Update

Brilliant Earth Group, Inc. (NASDAQ:BRLT) was the target of a significant decline in short interest in the month of August. As of August 31st, there was short interest totaling 303,700 shares, a decline of 44.7% from the August 15th total of 548,800 shares. Approximately 2.3% of the shares of the company are short sold. Based on an average daily volume of 1,100,000 shares, the short-interest ratio is currently 0.3 days. Based on an average daily volume of 1,100,000 shares, the short-interest ratio is currently 0.3 days. Approximately 2.3% of the shares of the company are short sold.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Jane Street Group LLC bought a new position in Brilliant Earth Group in the fourth quarter valued at approximately $25,000. Millennium Management LLC acquired a new stake in Brilliant Earth Group during the 4th quarter worth approximately $65,000. Northern Trust Corp lifted its holdings in Brilliant Earth Group by 64.0% during the 4th quarter. Northern Trust Corp now owns 73,024 shares of the company’s stock worth $153,000 after purchasing an additional 28,505 shares during the last quarter. Finally, Klingman & Associates LLC lifted its holdings in Brilliant Earth Group by 61.5% during the 2nd quarter. Klingman & Associates LLC now owns 148,273 shares of the company’s stock worth $204,000 after purchasing an additional 56,451 shares during the last quarter. 70.41% of the stock is currently owned by institutional investors.

Brilliant Earth Group Stock Performance

NASDAQ:BRLT opened at $2.51 on Friday. The company has a market cap of $250.37 million, a PE ratio of -83.67 and a beta of 1.45. Brilliant Earth Group has a 52-week low of $1.25 and a 52-week high of $3.10. The stock has a 50-day simple moving average of $2.00 and a 200 day simple moving average of $1.64.

Brilliant Earth Group Announces Dividend

The business also recently declared a dividend, which was paid on Monday, September 8th. Shareholders of record on Friday, August 22nd were paid a $0.25 dividend. The ex-dividend date was Friday, August 22nd.

Analyst Ratings Changes

Several brokerages have recently commented on BRLT. Cowen restated a “hold” rating on shares of Brilliant Earth Group in a report on Friday, August 8th. Telsey Advisory Group restated a “market perform” rating and set a $2.00 target price on shares of Brilliant Earth Group in a report on Thursday, August 7th. Finally, Zacks Research cut Brilliant Earth Group from a “hold” rating to a “strong sell” rating in a report on Friday, August 15th. Three research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $1.80.

Brilliant Earth Group Company Profile

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.