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

Brilliant Earth Group, Inc. (NASDAQ:BRLT) saw a significant drop in short interest in June. As of June 15th, there was short interest totalling 106,100 shares, a drop of 12.4% from the May 31st total of 121,100 shares. Based on an average daily trading volume, of 43,100 shares, the short-interest ratio is presently 2.5 days. Approximately 0.9% of the shares of the stock are short sold.

Brilliant Earth Group Trading Down 1.4 %

Shares of BRLT traded down $0.03 during trading hours on Monday, hitting $2.19. The company had a trading volume of 30,138 shares, compared to its average volume of 45,541. The firm has a market cap of $214.31 million, a P/E ratio of 37.01 and a beta of 1.56. The stock’s 50 day moving average price is $2.42 and its 200 day moving average price is $2.84. The company has a quick ratio of 2.31, a current ratio of 2.88 and a debt-to-equity ratio of 0.54. Brilliant Earth Group has a 52-week low of $2.04 and a 52-week high of $4.29.

Brilliant Earth Group (NASDAQ:BRLT) last released its quarterly earnings data on Thursday, May 9th. The company reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.04. The firm had revenue of $97.34 million for the quarter, compared to the consensus estimate of $97.73 million. Brilliant Earth Group had a return on equity of 7.32% and a net margin of 0.55%. During the same quarter in the previous year, the business earned $0.01 earnings per share. On average, research analysts predict that Brilliant Earth Group will post -0.01 EPS for the current year.

Insider Buying and Selling

In related news, Director Jennifer Noel Harris sold 15,176 shares of the stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $2.19, for a total value of $33,235.44. Following the sale, the director now owns 42,844 shares in the company, valued at $93,828.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 84.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Virtu Financial LLC purchased a new position in shares of Brilliant Earth Group in the first quarter worth about $56,000. Avestar Capital LLC grew its stake in shares of Brilliant Earth Group by 25.0% in the fourth quarter. Avestar Capital LLC now owns 25,000 shares of the company’s stock worth $93,000 after purchasing an additional 5,000 shares during the last quarter. Finally, Federated Hermes Inc. grew its stake in shares of Brilliant Earth Group by 7.1% in the third quarter. Federated Hermes Inc. now owns 120,000 shares of the company’s stock worth $354,000 after purchasing an additional 7,920 shares during the last quarter. Hedge funds and other institutional investors own 70.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on BRLT shares. KeyCorp lowered their price target on Brilliant Earth Group from $6.00 to $3.00 and set an “overweight” rating on the stock in a research report on Monday, April 29th. Telsey Advisory Group restated an “outperform” rating and set a $4.00 price target on shares of Brilliant Earth Group in a research report on Friday, May 10th. Finally, TD Cowen lowered their price target on Brilliant Earth Group from $3.40 to $3.00 and set a “market perform” rating on the stock in a research report on Friday, March 15th.

About Brilliant Earth Group

Brilliant Earth Group, Inc designs, procures, and sells diamonds, gemstones, and jewelry in the United States and internationally. Its product assortment and merchandise include a collection of diamond engagement rings, wedding and anniversary rings, gemstone rings, and fine jewelry. The company sells directly to consumers through its omnichannel sales platform, including e-commerce and showrooms.