Brilliant Earth Group (NASDAQ:BRLT) Trading 0.6% Higher – Time to Buy?

Brilliant Earth Group, Inc. (NASDAQ:BRLT)’s share price shot up 0.6% on Monday . The company traded as high as $1.63 and last traded at $1.57. 40,772 shares changed hands during trading, a decline of 39% from the average session volume of 66,817 shares. The stock had previously closed at $1.56.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Zacks Research upgraded Brilliant Earth Group from a “strong sell” rating to a “hold” rating in a research report on Friday, November 28th. B. Riley started coverage on Brilliant Earth Group in a report on Tuesday, October 7th. They set a “buy” rating and a $3.00 price objective on the stock. Wall Street Zen downgraded Brilliant Earth Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 8th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Brilliant Earth Group in a research note on Wednesday, January 21st. Finally, Telsey Advisory Group reiterated a “market perform” rating and set a $2.00 price objective on shares of Brilliant Earth Group in a research report on Wednesday, November 5th. One analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $2.20.

Brilliant Earth Group Price Performance

The business has a 50-day moving average of $1.76 and a 200-day moving average of $2.06. The company has a market capitalization of $156.61 million, a P/E ratio of -52.33 and a beta of 1.41.

Brilliant Earth Group (NASDAQ:BRLT) last announced its earnings results on Wednesday, November 5th. The company reported $0.02 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.01. Brilliant Earth Group had a net margin of 0.44% and a negative return on equity of 1.23%. The business had revenue of $110.25 million for the quarter, compared to the consensus estimate of $109.10 million. Sell-side analysts predict that Brilliant Earth Group, Inc. will post -0.02 EPS for the current fiscal year.

Hedge Funds Weigh In On Brilliant Earth Group

A number of large investors have recently bought and sold shares of BRLT. Virtu Financial LLC bought a new position in Brilliant Earth Group in the 3rd quarter valued at $32,000. Algert Global LLC purchased a new stake in shares of Brilliant Earth Group during the third quarter valued at $40,000. Kapitalo Investimentos Ltda grew its holdings in shares of Brilliant Earth Group by 234.0% in the third quarter. Kapitalo Investimentos Ltda now owns 45,463 shares of the company’s stock worth $94,000 after purchasing an additional 31,851 shares during the last quarter. Susquehanna International Group LLP grew its holdings in shares of Brilliant Earth Group by 257.0% in the third 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. Finally, Squarepoint Ops LLC purchased a new position in Brilliant Earth Group in the 3rd quarter worth about $81,000. Hedge funds and other institutional investors own 70.41% of the company’s stock.

Brilliant Earth Group Company Profile

Brilliant Earth Group, Inc (NASDAQ: BRLT) is a specialty retailer of ethically sourced fine jewelry, with a focus on conflict-free diamonds and lab-grown gemstones. The company offers a broad range of products that include engagement rings, wedding bands, necklaces, earrings and bracelets, all crafted with a commitment to environmental sustainability and social responsibility. Customers can choose from a variety of materials such as recycled precious metals, responsibly sourced gemstones and innovative lab-grown diamonds.

Operating primarily through its e-commerce platform and a network of branded showrooms across major U.S.