Brilliant Earth Group, Inc. (NASDAQ:BRLT) Sees Large Growth in Short Interest

Brilliant Earth Group, Inc. (NASDAQ:BRLT) saw a large increase in short interest during the month of August. As of August 31st, there was short interest totalling 111,700 shares, an increase of 5.8% from the August 15th total of 105,600 shares. Approximately 0.9% of the shares of the company are short sold. Based on an average daily volume of 37,800 shares, the short-interest ratio is presently 3.0 days.

Brilliant Earth Group Stock Performance

Shares of Brilliant Earth Group stock traded up $0.09 during trading on Tuesday, hitting $2.26. 38,728 shares of the company’s stock were exchanged, compared to its average volume of 44,152. Brilliant Earth Group has a 52-week low of $1.66 and a 52-week high of $3.81. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.33 and a current ratio of 2.88. The stock has a market capitalization of $221.16 million, a price-to-earnings ratio of 37.67 and a beta of 1.53. The business has a 50-day simple moving average of $2.17 and a 200-day simple moving average of $2.43.

Brilliant Earth Group (NASDAQ:BRLT) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.04. Brilliant Earth Group had a return on equity of 6.48% and a net margin of 0.57%. The business had revenue of $105.43 million during the quarter, compared to analyst estimates of $106.52 million. On average, research analysts forecast that Brilliant Earth Group will post -0.03 EPS for the current year.

Institutional Investors Weigh In On Brilliant Earth Group

Several hedge funds have recently bought and sold shares of BRLT. Avestar Capital LLC lifted its stake in shares of Brilliant Earth Group by 25.0% in the 4th quarter. Avestar Capital LLC now owns 25,000 shares of the company’s stock valued at $93,000 after purchasing an additional 5,000 shares during the period. Renaissance Technologies LLC raised its position in shares of Brilliant Earth Group by 9.2% in the second quarter. Renaissance Technologies LLC now owns 118,200 shares of the company’s stock worth $262,000 after acquiring an additional 10,000 shares during the period. Privium Fund Management UK Ltd acquired a new position in shares of Brilliant Earth Group during the 2nd quarter worth approximately $28,000. Finally, Virtu Financial LLC acquired a new stake in Brilliant Earth Group in the 1st quarter valued at $56,000. Hedge funds and other institutional investors own 70.41% of the company’s stock.

Analyst Ratings Changes

BRLT has been the subject of several research reports. William Blair downgraded shares of Brilliant Earth Group from an “outperform” rating to a “market perform” rating in a research note on Friday, August 9th. Telsey Advisory Group reissued an “outperform” rating and issued a $3.00 price objective on shares of Brilliant Earth Group in a report on Thursday, August 29th.

Brilliant Earth Group Company Profile

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.