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

Brilliant Earth Group, Inc. (NASDAQ:BRLT) was the target of a significant drop in short interest in March. As of March 31st, there was short interest totaling 143,182 shares, a drop of 15.1% from the March 15th total of 168,745 shares. Currently, 0.9% of the company’s stock are short sold. Based on an average daily volume of 51,670 shares, the short-interest ratio is presently 2.8 days.

Insiders Place Their Bets

In related news, insider Sharon Dziesietnik sold 19,687 shares of the firm’s stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $1.37, for a total value of $26,971.19. Following the completion of the transaction, the insider owned 446,736 shares of the company’s stock, valued at approximately $612,028.32. This trade represents a 4.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 83.90% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Virtu Financial LLC bought a new position in shares of Brilliant Earth Group during the 3rd quarter worth approximately $32,000. Algert Global LLC bought a new position in shares of Brilliant Earth Group during the 3rd quarter worth approximately $40,000. Squarepoint Ops LLC bought a new stake in shares of Brilliant Earth Group during the 3rd quarter worth about $81,000. Millennium Management LLC bought a new stake in shares of Brilliant Earth Group during the 3rd quarter worth about $84,000. Finally, Kapitalo Investimentos Ltda boosted 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 period. 70.41% of the stock is currently owned by institutional investors.

Brilliant Earth Group Price Performance

Shares of BRLT opened at $1.39 on Friday. The firm has a 50-day moving average of $1.39 and a 200-day moving average of $1.78. Brilliant Earth Group has a one year low of $1.21 and a one year high of $3.10. The company has a market cap of $140.54 million, a PE ratio of -5.79 and a beta of 1.43.

Brilliant Earth Group (NASDAQ:BRLT) last announced its quarterly earnings data on Thursday, March 5th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.08). Brilliant Earth Group had a negative net margin of 0.48% and a negative return on equity of 12.33%. The firm had revenue of $124.41 million during the quarter, compared to the consensus estimate of $125.33 million. Analysts expect that Brilliant Earth Group will post -0.02 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on BRLT shares. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Brilliant Earth Group in a research report on Wednesday, January 21st. KeyCorp restated a “sector weight” rating on shares of Brilliant Earth Group in a research note on Friday, March 6th. 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 note on Friday, March 6th. Morgan Stanley downgraded Brilliant Earth Group to a “sector weight” rating in a research note on Friday, March 6th. Finally, TD Cowen decreased their price target on Brilliant Earth Group from $1.90 to $1.60 and set a “hold” rating for the company in a research note on Friday, March 6th. Seven equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average target price of $1.74.

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.