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

Brilliant Earth Group, Inc. (NASDAQ:BRLT) saw a large decline in short interest during the month of March. As of March 31st, there was short interest totalling 158,500 shares, a decline of 5.7% from the March 15th total of 168,100 shares. Based on an average daily trading volume, of 45,900 shares, the days-to-cover ratio is presently 3.5 days. Currently, 1.3% of the shares of the stock are short sold.

Hedge Funds Weigh In On Brilliant Earth Group

Several large investors have recently made changes to their positions in BRLT. JPMorgan Chase & Co. bought a new stake in Brilliant Earth Group during the 1st quarter valued at about $173,000. Bank of Montreal Can purchased a new position in Brilliant Earth Group in the 1st quarter worth approximately $1,230,000. Acadian Asset Management LLC purchased a new position in Brilliant Earth Group in the 1st quarter worth approximately $38,000. BlackRock Inc. lifted its position in Brilliant Earth Group by 3.8% in the 1st quarter. BlackRock Inc. now owns 105,913 shares of the company’s stock valued at $1,090,000 after acquiring an additional 3,883 shares in the last quarter. Finally, State Street Corp purchased a new stake in Brilliant Earth Group during the 1st quarter valued at $414,000. 70.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BRLT has been the topic of a number of analyst reports. TD Cowen decreased their target price on shares of 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. Telsey Advisory Group reiterated an “outperform” rating and issued a $4.00 price objective on shares of Brilliant Earth Group in a report on Friday, March 15th.

Brilliant Earth Group Trading Down 1.5 %

BRLT traded down $0.04 during trading on Tuesday, hitting $2.67. 6,469 shares of the stock traded hands, compared to its average volume of 44,916. The firm has a 50-day moving average of $2.92 and a 200 day moving average of $2.96. Brilliant Earth Group has a 12-month low of $2.04 and a 12-month high of $4.29. The firm has a market capitalization of $261.29 million, a P/E ratio of 54.21 and a beta of 1.61. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.66 and a quick ratio of 2.17.

Brilliant Earth Group (NASDAQ:BRLT) last announced its quarterly earnings results on Thursday, March 14th. The company reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.04. Brilliant Earth Group had a return on equity of 7.19% and a net margin of 0.51%. The company had revenue of $124.30 million during the quarter, compared to analyst estimates of $125.10 million. Equities research analysts anticipate that Brilliant Earth Group will post 0.01 EPS for the current year.

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.