Brilliant Earth Group, Inc. (NASDAQ:BRLT) Short Interest Up 21.3% in March

Brilliant Earth Group, Inc. (NASDAQ:BRLT) was the target of a large growth in short interest in the month of March. As of March 13th, there was short interest totaling 168,745 shares, a growth of 21.3% from the February 26th total of 139,128 shares. Based on an average daily volume of 111,814 shares, the days-to-cover ratio is presently 1.5 days. Approximately 1.1% of the shares of the stock are sold short.

Insider Transactions at Brilliant Earth Group

In other Brilliant Earth Group news, insider Sharon Dziesietnik sold 19,687 shares of the stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $1.37, for a total transaction 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 filing with the SEC, which is available through the SEC website. 83.90% of the stock is currently owned by company insiders.

Institutional Trading of Brilliant Earth Group

Several hedge funds have recently made changes to their positions in the business. Virtu Financial LLC purchased a new position in Brilliant Earth Group in the third quarter worth about $32,000. Algert Global LLC bought a new stake in shares of Brilliant Earth Group in the 3rd quarter valued at approximately $40,000. Squarepoint Ops LLC bought a new stake in shares of Brilliant Earth Group in the 3rd quarter valued at approximately $81,000. Millennium Management LLC purchased a new position in shares of Brilliant Earth Group in the 3rd quarter worth approximately $84,000. Finally, Kapitalo Investimentos Ltda boosted its holdings in shares of Brilliant Earth Group by 234.0% in the 3rd 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 period. 70.41% of the stock is currently owned by hedge funds and other institutional investors.

Brilliant Earth Group Stock Performance

BRLT stock opened at $1.33 on Wednesday. The firm has a fifty day moving average price of $1.45 and a 200 day moving average price of $1.86. Brilliant Earth Group has a fifty-two week low of $1.21 and a fifty-two week high of $3.10. The firm has a market cap of $134.48 million, a PE ratio of -5.54 and a beta of 1.40.

Brilliant Earth Group (NASDAQ:BRLT) last announced its quarterly 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 during the quarter, compared to the consensus estimate 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 predict that Brilliant Earth Group will post -0.02 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on BRLT. Morgan Stanley lowered shares of Brilliant Earth Group to a “sector weight” rating in a research report on Friday, March 6th. B. Riley Financial reiterated 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. Telsey Advisory Group reissued a “market perform” rating and set a $2.00 price objective on shares of Brilliant Earth Group in a report on Monday, March 2nd. KeyCorp restated a “sector weight” rating on shares of Brilliant Earth Group in a research report on Friday, March 6th. Finally, TD Cowen reduced their target price on Brilliant Earth Group from $1.90 to $1.60 and set a “hold” rating on the stock in a report on Friday, March 6th. Seven investment analysts have rated the stock with 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 “Reduce” and a consensus price target 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.