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

Brilliant Earth Group, Inc. (NASDAQ:BRLT) saw a large growth in short interest in January. As of January 30th, there was short interest totaling 144,209 shares, a growth of 19.6% from the January 15th total of 120,554 shares. Based on an average daily volume of 63,561 shares, the short-interest ratio is currently 2.3 days. Approximately 0.9% of the company’s shares are short sold. Approximately 0.9% of the company’s shares are short sold. Based on an average daily volume of 63,561 shares, the short-interest ratio is currently 2.3 days.

Analysts Set New Price Targets

Several research firms have issued reports on BRLT. Telsey Advisory Group restated 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. Zacks Research raised Brilliant Earth Group from a “strong sell” rating to a “hold” rating in a research note on Friday, November 28th. Weiss Ratings restated a “sell (d)” rating on shares of Brilliant Earth Group in a report on Wednesday, January 21st. Finally, Wall Street Zen cut Brilliant Earth Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 8th. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $2.50.

Brilliant Earth Group Stock Performance

NASDAQ BRLT opened at $1.49 on Tuesday. Brilliant Earth Group has a fifty-two week low of $1.25 and a fifty-two week high of $3.10. The stock has a 50 day simple moving average of $1.69 and a two-hundred day simple moving average of $2.06. The stock has a market cap of $148.63 million, a P/E ratio of -49.67 and a beta of 1.41.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in BRLT. Potomac Capital Management Inc. purchased a new stake in shares of Brilliant Earth Group in the 4th quarter worth about $422,000. Two Sigma Investments LP bought a new position in Brilliant Earth Group in the third quarter worth about $308,000. Capital World Investors lifted its holdings in Brilliant Earth Group by 13.2% in the third quarter. Capital World Investors now owns 1,052,309 shares of the company’s stock worth $2,178,000 after buying an additional 122,460 shares during the period. Vanguard Group Inc. boosted its position in Brilliant Earth Group by 13.2% during the 3rd quarter. Vanguard Group Inc. now owns 605,770 shares of the company’s stock valued at $1,254,000 after acquiring an additional 70,833 shares in the last quarter. Finally, Klingman & Associates LLC boosted its position 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 acquiring an additional 56,451 shares in the last quarter. 70.41% of the stock is owned by hedge funds and other institutional investors.

About Brilliant Earth Group

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.