Brokerages Set Brilliant Earth Group, Inc. (NASDAQ:BRLT) Target Price at $1.74

Shares of Brilliant Earth Group, Inc. (NASDAQ:BRLT) have been given a consensus rating of “Reduce” by the eight brokerages that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation and seven have issued a hold recommendation on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $1.7375.

BRLT has been the subject of a number of recent analyst reports. Weiss Ratings restated a “sell (d)” rating on shares of Brilliant Earth Group in a research report on Wednesday, January 21st. Jefferies Financial Group restated a “hold” rating and issued a $1.85 price objective on shares of Brilliant Earth Group in a research report on Thursday, March 5th. Morgan Stanley downgraded shares of Brilliant Earth Group to a “sector weight” rating in a research report on Friday, March 6th. B. Riley Financial restated a “neutral” rating and issued a $1.50 price objective (down from $3.00) on shares of Brilliant Earth Group in a research report on Friday, March 6th. Finally, TD Cowen reduced their price objective on shares of Brilliant Earth Group from $1.90 to $1.60 and set a “hold” rating for the company in a research report on Friday, March 6th.

Brilliant Earth Group Stock Performance

Shares of BRLT opened at $1.41 on Tuesday. Brilliant Earth Group has a fifty-two week low of $1.21 and a fifty-two week high of $3.10. The company has a market capitalization of $142.57 million, a price-to-earnings ratio of -5.87 and a beta of 1.43. The firm has a 50-day simple moving average of $1.38 and a 200-day simple moving average of $1.76.

Brilliant Earth Group (NASDAQ:BRLT) last announced its earnings results on Thursday, March 5th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.08). The business had revenue of $124.41 million for the quarter, compared to analyst estimates of $125.33 million. Brilliant Earth Group had a negative return on equity of 12.33% and a negative net margin of 0.48%. Equities research analysts forecast that Brilliant Earth Group will post -0.07 EPS for the current year.

Insider Buying and Selling

In related news, insider Sharon Dziesietnik sold 19,687 shares of the firm’s stock in a transaction dated 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 sale, the insider owned 446,736 shares in the company, valued at $612,028.32. This trade represents a 4.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 added to or reduced their stakes in the company. Virtu Financial LLC purchased a new stake in shares of Brilliant Earth Group during the 3rd quarter worth approximately $32,000. Algert Global LLC purchased a new stake in shares of Brilliant Earth Group during the 3rd quarter worth approximately $40,000. Renaissance Technologies LLC boosted its stake in shares of Brilliant Earth Group by 11.2% during the 4th quarter. Renaissance Technologies LLC now owns 218,100 shares of the company’s stock worth $382,000 after acquiring an additional 22,000 shares in the last quarter. Squarepoint Ops LLC boosted its stake in shares of Brilliant Earth Group by 58.0% during the 4th quarter. Squarepoint Ops LLC now owns 62,103 shares of the company’s stock worth $109,000 after acquiring an additional 22,793 shares in the last quarter. Finally, Kapitalo Investimentos Ltda boosted its stake 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 acquiring an additional 31,851 shares in the last quarter. Institutional investors and hedge funds own 70.41% of the company’s stock.

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.