Brilliant Earth Group (NASDAQ:BRLT) Lowered to “Buy” Rating by Wall Street Zen

Brilliant Earth Group (NASDAQ:BRLT) was downgraded by Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued on Saturday.

BRLT has been the subject of several other reports. Weiss Ratings reissued a “sell (d)” rating on shares of Brilliant Earth Group in a report on Wednesday, October 8th. B. Riley started coverage on Brilliant Earth Group in a report on Tuesday, October 7th. They issued a “buy” rating and a $3.00 target price for the company. Cowen reaffirmed a “hold” rating on shares of Brilliant Earth Group in a research note on Friday, August 8th. Zacks Research downgraded shares of Brilliant Earth Group from a “hold” rating to a “strong sell” rating in a report on Thursday, October 30th. Finally, Telsey Advisory Group reiterated a “market perform” rating and issued a $2.00 price objective on shares of Brilliant Earth Group in a research note on Wednesday. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average price target of $2.20.

Brilliant Earth Group Price Performance

Shares of NASDAQ BRLT opened at $2.80 on Friday. The stock has a fifty day moving average price of $2.47 and a 200 day moving average price of $1.90. Brilliant Earth Group has a 1-year low of $1.25 and a 1-year high of $3.10. The company has a market cap of $279.30 million, a PE ratio of -93.33 and a beta of 1.39.

Brilliant Earth Group (NASDAQ:BRLT) last announced its quarterly earnings data 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 1.23%. The company had revenue of $97.70 million during the quarter. Analysts anticipate that Brilliant Earth Group will post -0.02 earnings per share for the current fiscal year.

Institutional Trading of Brilliant Earth Group

A number of hedge funds have recently bought and sold shares of BRLT. Kapitalo Investimentos Ltda boosted its stake in Brilliant Earth Group by 234.0% in the 3rd quarter. Kapitalo Investimentos Ltda now owns 45,463 shares of the company’s stock worth $94,000 after buying an additional 31,851 shares during the last quarter. Klingman & Associates LLC grew its stake in Brilliant Earth Group by 61.5% during the second quarter. Klingman & Associates LLC now owns 148,273 shares of the company’s stock worth $204,000 after buying an additional 56,451 shares during the period. Finally, Vanguard Group Inc. increased its holdings in Brilliant Earth Group by 13.2% in the 3rd quarter. Vanguard Group Inc. now owns 605,770 shares of the company’s stock valued at $1,254,000 after purchasing an additional 70,833 shares in the last quarter. Institutional investors and hedge funds own 70.41% of the company’s stock.

About Brilliant Earth Group

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.