Brilliant Earth Group, Inc. (NASDAQ:BRLT) Receives $2.20 Consensus Price Target from Brokerages

Brilliant Earth Group, Inc. (NASDAQ:BRLT) has received an average rating of “Reduce” from the six research firms that are presently covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $2.20.

BRLT has been the topic of several research analyst reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Brilliant Earth Group in a research note on Wednesday, October 8th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $2.00 price target on shares of Brilliant Earth Group in a research report on Wednesday, November 5th. Cowen reiterated 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 research note on Thursday, October 30th. Finally, B. Riley assumed coverage on shares of Brilliant Earth Group in a report on Tuesday, October 7th. They set a “buy” rating and a $3.00 target price on the stock.

Hedge Funds Weigh In On Brilliant Earth Group

A number of institutional investors have recently added to or reduced their stakes in the company. Capital World Investors boosted its position in Brilliant Earth Group by 13.2% in the 3rd quarter. Capital World Investors now owns 1,052,309 shares of the company’s stock valued at $2,178,000 after buying an additional 122,460 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Brilliant Earth Group by 13.2% in the third 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 during the last quarter. Two Sigma Investments LP purchased a new position in Brilliant Earth Group in the third quarter valued at about $308,000. Klingman & Associates LLC grew its stake in Brilliant Earth Group by 61.5% during the 2nd quarter. Klingman & Associates LLC now owns 148,273 shares of the company’s stock valued at $204,000 after purchasing an additional 56,451 shares in the last quarter. Finally, Susquehanna International Group LLP increased its holdings in Brilliant Earth Group by 257.0% during the 3rd quarter. Susquehanna International Group LLP now owns 52,474 shares of the company’s stock worth $109,000 after purchasing an additional 37,774 shares during the last quarter. Institutional investors and hedge funds own 70.41% of the company’s stock.

Brilliant Earth Group Stock Down 0.6%

Shares of BRLT opened at $1.66 on Friday. Brilliant Earth Group has a fifty-two week low of $1.25 and a fifty-two week high of $3.10. The company’s fifty day moving average is $2.31 and its two-hundred day moving average is $1.94. The firm has a market cap of $165.59 million, a PE ratio of -55.33 and a beta of 1.39.

Brilliant Earth Group (NASDAQ:BRLT) last issued its earnings results on Wednesday, June 12th. The company reported $0.03 earnings per share for the quarter. Brilliant Earth Group had a negative return on equity of 1.23% and a net margin of 0.44%.The business had revenue of $97.70 million for the quarter. As a group, equities research analysts anticipate that Brilliant Earth Group will post -0.02 earnings per share for the current year.

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.