Brilliant Earth Group, Inc. (NASDAQ:BRLT) Receives $1.74 Consensus PT from Analysts

Shares of Brilliant Earth Group, Inc. (NASDAQ:BRLT) have been assigned an average recommendation of “Reduce” from the eight ratings firms that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation and seven have assigned a hold recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $1.7375.

Several brokerages recently issued reports on BRLT. Morgan Stanley cut shares of Brilliant Earth Group to a “sector weight” rating in a research note on Friday, March 6th. Jefferies Financial Group reissued a “hold” rating and issued a $1.85 target price on shares of Brilliant Earth Group in a research note on Thursday, March 5th. Weiss Ratings restated a “sell (d)” rating on shares of Brilliant Earth Group in a report on Wednesday, January 21st. B. Riley Financial restated a “neutral” rating and issued a $1.50 price target (down from $3.00) on shares of Brilliant Earth Group in a research report on Friday, March 6th. Finally, KeyCorp reaffirmed a “sector weight” rating on shares of Brilliant Earth Group in a report on Friday, March 6th.

Brilliant Earth Group Stock Performance

Shares of BRLT stock opened at $1.28 on Friday. Brilliant Earth Group has a fifty-two week low of $1.23 and a fifty-two week high of $3.10. The stock’s fifty day moving average is $1.47 and its two-hundred day moving average is $1.88. The firm has a market capitalization of $129.42 million, a P/E ratio of -5.33 and a beta of 1.40.

Brilliant Earth Group (NASDAQ:BRLT) last released its earnings results on Thursday, March 5th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.08). The business had revenue of $124.41 million for the quarter, compared to analysts’ expectations of $125.33 million. Brilliant Earth Group had a negative return on equity of 12.33% and a negative net margin of 0.48%. On average, equities analysts forecast that Brilliant Earth Group will post -0.02 earnings per share for the current year.

Insider Transactions at Brilliant Earth Group

In other Brilliant Earth Group news, insider Sharon Dziesietnik sold 19,687 shares of the firm’s stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $1.37, for a total value of $26,971.19. Following the completion of the sale, the insider directly owned 446,736 shares of the company’s stock, valued at $612,028.32. This trade represents a 4.22% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 83.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Brilliant Earth Group

A number of hedge funds have recently modified their holdings of BRLT. Virtu Financial LLC purchased a new position in Brilliant Earth Group during the third quarter worth about $32,000. Algert Global LLC acquired a new position in Brilliant Earth Group in the 3rd quarter valued at about $40,000. Squarepoint Ops LLC purchased a new stake in shares of Brilliant Earth Group in the 3rd quarter valued at approximately $81,000. Millennium Management LLC acquired a new stake in shares of Brilliant Earth Group during the 3rd quarter worth approximately $84,000. Finally, Kapitalo Investimentos Ltda increased its holdings in shares of Brilliant Earth Group by 234.0% during 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. 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.