Brilliant Earth Group (NASDAQ:BRLT) Cut to Strong Sell at Zacks Research

Zacks Research cut shares of Brilliant Earth Group (NASDAQ:BRLT) from a hold rating to a strong sell rating in a research note published on Thursday morning,Zacks.com reports.

Other equities research analysts have also issued reports about the stock. Cowen reaffirmed a “hold” rating on shares of Brilliant Earth Group in a report on Friday, August 8th. B. Riley started coverage on shares of Brilliant Earth Group in a report on Tuesday, October 7th. They set a “buy” rating and a $3.00 price objective for the company. Telsey Advisory Group reaffirmed a “market perform” rating and set a $2.00 price objective on shares of Brilliant Earth Group in a report on Wednesday. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Brilliant Earth Group in a report on Wednesday, October 8th. Finally, Wall Street Zen raised shares of Brilliant Earth Group to a “strong-buy” rating in a report on Saturday, September 20th. One equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target of $2.20.

Brilliant Earth Group Trading Down 2.4%

NASDAQ BRLT opened at $2.41 on Thursday. Brilliant Earth Group has a 12 month low of $1.25 and a 12 month high of $3.10. The stock has a market cap of $240.40 million, a price-to-earnings ratio of -80.33 and a beta of 1.37. The company’s 50 day moving average is $2.48 and its two-hundred day moving average is $1.87.

Brilliant Earth Group (NASDAQ:BRLT) last released its earnings results on Wednesday, June 12th. The company reported $0.03 EPS for the quarter. Brilliant Earth Group had a net margin of 0.44% and a negative return on equity of 1.57%. The company had revenue of $97.70 million for the quarter. Sell-side analysts forecast that Brilliant Earth Group will post -0.02 EPS for the current year.

Brilliant Earth Group Announces Dividend

The company also recently disclosed a dividend, which was paid on Monday, September 8th. Investors of record on Friday, August 22nd were issued a $0.25 dividend. The ex-dividend date was Friday, August 22nd.

Institutional Trading of Brilliant Earth Group

An institutional investor recently raised its position in Brilliant Earth Group stock. Klingman & Associates LLC lifted its position in Brilliant Earth Group, Inc. (NASDAQ:BRLT) by 61.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 148,273 shares of the company’s stock after acquiring an additional 56,451 shares during the quarter. Klingman & Associates LLC owned 0.15% of Brilliant Earth Group worth $204,000 as of its most recent SEC filing. Institutional investors and hedge funds own 70.41% of the company’s stock.

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.